Forbes Moderna and BioNTech shares both cratered to their lowest price in years Monday as the companies behind the most widely-circulated mRNA Covid-19 vaccines grapple with investor disappointment with crashing revenues.
BioNTech and Moderna’s stocks fell 8% and 6%, respectively, a decline spurred by BioNTech’s earnings report revealing the German firm’s sales fell 95% year-over-year last quarter.
Moderna’s fresh decline came after it reported a 93% annual decline in quarterly revenues in its own earnings release Thursday.
Moderna’s $101.20 close Monday was its lowest since November 2020, while BioNTech’s $98.50 close was its lowest since March 2021.
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