Moderna takes hefty $1.3B COVID write-off, scales back manufacturing as sales shrink

The days of booming COVID-19 vaccine sales, which sent Moderna into the ranks of pharma's top companies, have passed. Now, the company is coping with low demand and taking inventory write-downs for “excess and obsolete” stock of its only marketed product.

Moderna’s third-quarter earnings report featured an array of financial losses and various charges.