Why Are Moderna Shares Plunging Today? - Moderna (NASDAQ:MRNA)

Moderna Inc MRNA reports a Q3 EPS of $7.70, a turnaround from an EPS loss of $(0.59) a year ago, though missing the consensus estimate of $9.09.
The Company clocked Q2 revenues of $4.96 billion compared to just $157 million a year ago, missing the consensus of $6.23 billion.
The sales growth was primarily attributable to commercial sales of its COVID-19 vaccine of $4.8 billion from the sale of 208 million doses, compared to $4.2 billion from 199 million doses in Q2 of FY21.
Operating income came in at $3.6 billion compared to a loss of $235 million.
Moderna held cash and equivalents of $15.3 billion in Q3.
Outlook: For FY21, Moderna expects deliveries of its COVID-19 vaccine of 700 million - 800 million doses, down from 800 million - 1 billion anticipated doses earlier.
The Company says longer delivery lead times for international shipments and exports may shift deliveries to early 2022.
The Company expects to realize product sales of $15 billion - $18 billion, much lower than $20 billion.
Price Action: MRNA shares are down 11.30% at $306.75 during the premarket session on the last check Thursday.