Biotech firm Maravai LifeSciences falls on Q2 revenue slump

Maravai Lifesciences Holdings

07/08/2023 21:53

** Shares of biotech company Maravai LifeSciences Holdings
Inc  MRVI.O  fall 12.43% to $9.65 in extended trading
    ** Co's Q2 revenue declines 71.6% to $68.9 mln on shrinking
demand from COVID-19 vaccine manufacturers for mRNA technology
    ** Co reports a net loss of $11.9 mln vs a profit of $156.7
mln a year earlier
    ** YTD, shares of the co down 22.99% vs a 2.33% decline in
the S&P 500 - Life Sciences Tools & Services Sub Index
 .SPLRCLISCI 

 (Reporting by Ananta Agarwal in Bengaluru)
 ((Ananta.Agarwal@thomsonreuters.com))