Why Moderna Shares Are Falling Following BioNTech's Earnings Results

Moderna Inc MRNA shares are trading lower by 2.32% to $182.50 Monday afternoon in sympathy with BioNTech SE - ADR BNTX, which reported worse-than-expected second-quarter results.

What Happened?

BioNTech believes the development of the pandemic remains dynamic, causing a re-phasing of orders and leading to fluctuations in quarterly revenues. 

This revenue fluctuation caused by the re-phasing of orders is expected to remain over the rest of the financial year with uptake in demand in key markets in fourth-quarter FY22 related to the Omicron-adapted bivalent vaccine, subject to regulatory approval... Read More

According to data from Benzinga Pro, Moderna has a 52-week high of $497.49 and a 52-week low of $115.61.