Moderna (MRNA) reported second-quarter losses and plummeting sales Thursday, and MRNA stock dipped despite boosting its outlook for the year.

 
 
 
 
 
 
 
 
 
 
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The company is working to launch an updated Covid booster shot this fall. Now, Moderna expects $6 billion to $8 billion in full-year sales. Most of those sales are expected in the fourth quarter. The updated outlook easily beats Moderna's first-quarter call for around $5 billion in sales this year, and is just below Wall Street's forecast for $7.06 billion.

On the stock market today, MRNA stock edged down 0.2% to 109.95.

Overall, Moderna's second-quarter sales crashed 93% to $344 million, but beat the forecast of analysts polled by FactSet for $308 million. Moderna noted lower demand for its Covid vaccine, the company's only commercial product.

Moderna also reported a $3.62 per-share loss, reversing from a gain of $5.24 in the year-earlier period. But that beat analysts' call for a loss of $3.93 per share.