Moderna Inc (NASDAQ:MRNA) stock is tanking hard in the late afternoon session following the report that USTR Katherine Tai will have talks about intellectual property waiver regarding COVID-19 vaccines.
After trading in the green for the session, MRNA slipped suddenly and now trading lower by 7.67% at $160.27 after falling to a session low of $156.89. The stock has fallen about 11% from its session high of $180.70.
Moderna is all set to report its first-quarter earnings tomorrow. Analysts are estimating the company report EPS of $2.30 compared to a loss of 35 cents in the same quarter of the last year.
Revenue is expected to skyrocket on sales of Moderna’s recently approved COVID-19 vaccine. Moderna expects to supply up to 1 billion doses of its vaccine in 2021.
Keep an eye on MRNA stock if there will be any recovery by the end of the session.
Finance and Entertainment Reporter
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