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The vaccine maker reported sales of $3.36 billion in the third quarter, missing Wall Street estimates of $3.53 billion. It also did not disclose further details on the supply issues.
Sales for COVID-19 shots are down from pandemic highs as countries near the end of their primary vaccination campaigns, leading to low market expectations for sales this year.
Moderna’s forecast cut comes just two days after rival Pfizer Inc (NYSE:PFE)’s quarterly sales of its COVID-19 vaccine beat estimates and the drugmaker raised its full-year sales forecast for its shots.
Moderna now expects 2022 COVID-19 vaccine sales of $18 billion and $19 billion from $21 billion.
