Core Viewpoint - Moderna has lowered its 2025 revenue outlook due to delays in vaccine shipments to the U.K., while still beating Wall Street expectations for the second quarter as it implements cost-cutting measures [1][2]. Revenue Outlook - The company now expects full-year revenue to be between $1.5 billion and $2.2 billion, a decrease of $300 million at the top end of the range [2]. - The delay in shipping spring Covid boosters to the U.K. has shifted deliveries to the first quarter of 2026, but the overall contract value remains unchanged [3]. Second Quarter Performance - Moderna reported second-quarter sales of $142 million, a 41% decline from the same period last year, primarily due to decreasing Covid vaccine sales [4]. - The revenue from the Covid vaccine accounted for $114 million of the total, surpassing analysts' expectations of $89 million [5][7]. - The company's vaccine for respiratory syncytial virus had negligible sales, falling short of the expected $5.9 million [5]. Financial Losses - Moderna posted a net loss of $825 million, or $2.13 per share, for the second quarter, an improvement from a net loss of $1.3 billion, or $3.33 per share, in the same quarter last year [5][6]. - The loss per share was better than the expected loss of $2.97 [7]. Cost Management - The company's efforts to cut costs resulted in a 27% reduction in second-quarter operating expenses, which fell to $1.1 billion from $1.6 billion year-over-year [6].

Exhibit 99.1 Moderna Reports Second Quarter 2025 Financial Results and Provides Business Updates Reports second quarter revenues of $0.1 billion, GAAP net loss of $(0.8) billion and GAAP EPS of $(2.13) Updates 2025 projected revenue range to $1.5 to $2.2 billion, reflecting a $300 million reduction at the high end, primarily driven by timing of deliveries for contracted revenue into the first quarter of 2026 Improves 2025 expected GAAP operating expenses by approximately $400 million to a range of $5.9 to $ ...

Group 1 - The core viewpoint of the article indicates skepticism from the capital market regarding Moderna's business strategy, particularly concerning the rebound in sales of COVID-19 and RSV vaccines [1][2] - Moderna announced a global workforce reduction of 10%, cutting nearly 1,000 employees to approximately 5,000 by the end of the year due to declining sales of COVID-19 vaccines, leading to an over 8% drop in stock price after hours on July 31 [1] - The company's financial crisis has worsened, with its stock price falling over 75% in the past year, and its market capitalization plummeting from nearly $200 billion at the peak of the pandemic to about $11 billion currently [1] Group 2 - In contrast to Moderna, BioNTech has successfully adjusted its strategy post-pandemic, resulting in a nearly 25% increase in stock price over the past year and a market capitalization exceeding $25 billion, more than double that of Moderna [2][3] - BioNTech has focused on diversifying its portfolio and entering new markets, such as the emerging ADC (antibody-drug conjugate) field, while also securing a potential $11 billion deal with Bristol-Myers Squibb for developing dual antibody drugs [3] - A biopharmaceutical investor noted that Moderna missed the opportunity to diversify its product offerings using the substantial revenue generated from COVID-19 vaccines, suggesting that more product licensing could have led to a more favorable perception in the capital market [3]

Group 1 - The capital market's reaction indicates skepticism towards Moderna's business strategy, with investors lacking confidence in the rebound of sales for COVID-19 and RSV vaccines [1][2] - Moderna announced a 10% global workforce reduction, cutting nearly 1,000 employees due to declining COVID-19 vaccine sales, leading to an over 8% drop in stock price [1] - The company's stock has fallen over 75% in the past year, with its market capitalization plummeting from nearly $200 billion at the pandemic peak to approximately $11 billion currently [1] Group 2 - In contrast, BioNTech has adjusted its strategy post-pandemic, resulting in a nearly 25% increase in stock price over the past year and a market capitalization exceeding $25 billion, more than double that of Moderna [2][3] - BioNTech has diversified its investments, focusing on licensing deals and entering the emerging ADC (antibody-drug conjugate) market, while Moderna has heavily invested in mRNA vaccine development [3] - BioNTech recently secured a potential $11 billion deal with Bristol-Myers Squibb for a dual antibody drug, which was acquired from a Chinese biotech company for less than $1 billion [3]

Core Viewpoint - Moderna is facing challenges due to declining COVID-19 vaccine sales and market uncertainty, leading to workforce reductions and expected financial losses in the upcoming earnings report [2]. Financial Performance - Analysts predict Moderna will report a quarterly loss of $2.97 per share, an improvement from a loss of $3.33 per share a year ago [1]. - Projected quarterly revenue is $112.96 million, down from $241 million a year earlier [1]. Workforce Reduction - Moderna announced plans to reduce its global workforce by approximately 10% by the end of the year [2]. Stock Performance - Following the announcement of workforce reductions, Moderna shares fell by 8.1%, closing at $29.56 [2]. Analyst Ratings - JP Morgan analyst Jessica Fye maintained an Underweight rating and reduced the price target from $33 to $26 [8]. - Evercore ISI Group analyst Cory Kasimov maintained an In-Line rating and cut the price target from $50 to $32 [8]. - Morgan Stanley analyst Matthew Harrison maintained an Equal-Weight rating and lowered the price target from $39 to $32 [8]. - Citigroup analyst Geoff Meacham initiated coverage with a Neutral rating and a price target of $40 [8]. - Argus Research analyst John Eade downgraded the stock from Buy to Hold [8].

Moderna(MRNA.US)跌超3.2%，报31.1美元。消息面上，由于新冠疫苗销量持续下滑，Moderna正努力 应对疫苗市场的不确定性，计划在今年年底前裁减约10%的全球员工，受影响人数将少于5000人。根据 Moderna去年年度报告，截至去年底止，该公司在18个国家拥有约5800名全职员工。(格隆汇) ...

Market Performance - The three major U.S. stock indices opened higher, with the Dow Jones up 0.17%, the Nasdaq up 1.55%, and the S&P 500 up 0.82% [1] Company Highlights - Meta's second-quarter net profit increased by 36%, leading to a stock price rise of over 11% [1] - Microsoft's fourth fiscal quarter net profit grew by 24%, resulting in a stock price increase of over 8% [1] IPO News - Figma is set to debut on the New York Stock Exchange with an IPO price of $33 per share, raised from an initial range of $25-28 due to strong market demand [2] - The IPO price was adjusted upwards to $30-32 earlier in the week, reflecting high investor interest [2] Tesla Developments - Tesla has launched a ride-hailing service in the San Francisco Bay Area, but it is not clear if autonomous vehicles will be used; the service will operate with a safety driver present [3] Ford Financial Update - Ford warned that its full-year performance will be impacted by $3 billion due to tariffs, with a $800 million hit reported in the second quarter [4] - The company raised its estimate of the total revenue impact from tariffs by $500 million [4] Moderna Workforce Reduction - Moderna announced a 10% workforce reduction to address financial pressures from declining vaccine sales [5]

Company Restructuring - Moderna is reducing its workforce by approximately 10% [1] - The company aims to cut spending due to declining Covid vaccine sales [1]

He said the "future of Moderna is bright," noting that it now has three approved products and the potential for up to eight more in the next three years. In May, the Food and Drug Administration approved Moderna's third- ever product, a next-generation Covid shot. But Bancel said "this decision was not made lightly." Also in May, Moderna said it will reduce annual operating expenses by about $1.5 billion by 2027. That target adds to cuts that the company previously announced. Moderna will provide another up ...

Core Insights - The Covid-19 pandemic significantly elevated the profiles of Moderna and BioNTech, but the two companies have since diverged in their strategic directions and stock performances [3][5]. Company Strategies - Moderna has focused on expanding its mRNA pipeline, investing in vaccines for flu, RSV, and other viruses, while BioNTech has diversified into cancer technologies and other areas [4][6][13]. - BioNTech's strategy includes acquiring promising cancer technologies, such as a bispecific antibody targeting PD-L1 and VEG-F, which could rival existing successful cancer drugs like Merck's Keytruda [14][15]. Financial Performance - Both companies generated approximately $45 billion in sales from Covid vaccines, with each earning around $20 billion since late 2020 [3]. - Moderna currently holds about $8.4 billion in cash, while BioNTech has €15.9 billion (approximately $18.2 billion) [4]. Stock Performance - Over the past year, Moderna's stock has decreased by about 72%, whereas BioNTech's shares have increased by nearly 29% [5]. Future Outlook - Moderna is seeking FDA approval for an mRNA flu shot and is focused on a Phase 3 trial for a personalized cancer treatment for melanoma, with potential data release as early as next year [17][18]. - BioNTech is awaiting results from its own studies and ongoing Phase 3 trials, which could impact its stock performance significantly [16][18].