Moderna COVID vaccine sales plummet 91 percent

Moderna's COVID-19 vaccine sales plummeted by 91% in the first quarter, with revenue dropping to $167 million from $1.9 billion the previous year. Despite this, Moderna's stock surged over 12.5% as the drop was less severe than anticipated. Analysts remain divided on Moderna's future, with some optimistic about its pipeline of new vaccines and others skeptical about repeating past success.

The company is preparing to launch several new products, including vaccines for RSV and a combination of COVID and flu. Moderna is also focusing on therapeutic vaccines for cancer in collaboration with Merck. Despite the current downturn, CEO Stéphane Bancel remains confident in the company's future growth and innovation in mRNA technology.