's (NASDAQ: MRNA) sales are slowing down, and Moderna stock is going down -- a lot.

The coronavirus vaccine maker's shares plunged 21.2% through 10:20 a.m. ET Monday after it updated investors on its 2024 performance and released new guidance for 2025.

Moderna estimates it ended 2024 with somewhere between $3 billion and $3.1 billion in product sales as it shifted its business toward treating COVID-19 as an "endemic" illness rather than a novel and spreading pandemic. CEO Stéphane Bancel said Moderna has cut its "cash operating cost by over 25 percent compared to 2023" and plans to make further cost cuts of $1 billion in 2025 and $500 million more in 2026, which should boost profits.

Continue reading

Source Fool.com