Moderna Stock Drops on Plans To Cut $1.1B in R&D Costs

Key Takeaways Moderna shares fell Thursday morning after the COVID vaccine maker announced plans to trim its research and development pipeline to cut costs. The company said it will focus on getting FDA approval for 10 products to treat RSV and cancer, along with a combination COVID and flu vaccine. Moderna said it expects the moves to lower expenses by $1.1 billion by 2027. Moderna (MRNA) shares tumbled in pre-market trading Thursday as the company said it plans to cut costs and suspend or end development ...