A local resident receives the Moderna COVID-19 vaccine shot at...

A local resident receives the Moderna COVID-19 vaccine shot at a center, June 30, 2021, in the Sumida ward of Tokyo. Credit: AP/Eugene Hoshiko

Shares of Moderna tumbled in early trading Monday after the vaccine maker predicted a steeper-than-expected sales drop in the new year.

Moderna said it expects 2025 revenue to range between $1.5 billion and $2.5 billion after hitting as much as $3.1 billion last year.

Analysts expect, on average, $2.92 billion in revenue for 2025, according to FactSet.

The company also said it was speeding up and expanding a cost-cutting plan. It expects to cut cash costs by $1 billion in the new year, with additional cuts planned in 2026.

Moderna pulled in most of its revenue last year from its COVID-19 vaccine, Spikevax, which brought in more than $3 billion in sales. Regulators also approved a Moderna vaccine for RSV, or respiratory syncytial virus. The company said that generated minimal sales in the year.

Moderna made its announcement Monday ahead of a presentation at the annual J.P. Morgan Healthcare Conference in San Fransisco. The company will detail its fourth-quarter results on Feb. 14.

Moderna is a couple years removed from pulling in more than $19 billion in sales annually after initial vaccination rounds during the pandemic.

Shares of Cambridge, Massachusetts-based Moderna Inc. fell 19%, or $8.18, to $34.07 in morning trading.

From Love Lane in Mattituck, NewsdayTV's Elisa DiStefano and Newsday deputy lifestyle editor Meghan Giannotta have your look at ways to celebrate Valentine's Day this year. Credit: Randee Daddona, Gary Licker; Newsday / A.J. Singh

Put a little love in your heart with the NewsdayTV Valentine's Day Special! From Love Lane in Mattituck, NewsdayTV's Elisa DiStefano and Newsday deputy lifestyle editor Meghan Giannotta have your look at ways to celebrate Valentine's Day this year.

From Love Lane in Mattituck, NewsdayTV's Elisa DiStefano and Newsday deputy lifestyle editor Meghan Giannotta have your look at ways to celebrate Valentine's Day this year. Credit: Randee Daddona, Gary Licker; Newsday / A.J. Singh

Put a little love in your heart with the NewsdayTV Valentine's Day Special! From Love Lane in Mattituck, NewsdayTV's Elisa DiStefano and Newsday deputy lifestyle editor Meghan Giannotta have your look at ways to celebrate Valentine's Day this year.

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