Moderna (NASDAQ:MRNA) stock suffered a hit after announcing Jorge Gomez is stepping down from his position as chief financial officer (CFO). Questions about his time at Dentsply Sirona (NASDAQ:XRAY) have led to his departure. Dentsply is investigating whether or not incentives were used to sell products. It’s also looking into “other actions to achieve executive-compensation targets,” such as price discounts and customer inducements. Moderna’s David Meline, who recently retired from his role, will now make a comeback and take over as the company’s finance director.

The announcement came at the wrong time for Moderna because the stock was on a high after the release of stellar quarterly numbers.

Moderna specializes in developing messenger RNA vaccines that have been successfully used worldwide. Their most notable one is the Covid-19 vaccine. Now there is concern that Moderna needs to evolve beyond its Covid-19 vaccine. However, it has initiated efforts to expand its business and make a profit, but they have to rely on Covid-19 vaccinations to do so. Whether or not they will succeed will require the use of mRNA drug delivery systems to prevent other diseases.

Buy MRNA Stock on the Dip

Moderna had a much better financial quarter than expectations called for. It also has some leftover cash; $19.3 billion as of Mar. 31, 2022, which it can invest in its research. Hoping to make sense of it all, the company uses a forecast model to understand its revenue. There are still some unknowns, but it’s important to remember that forecasting anything can be difficult and unpredictable. The Covid-19 pandemic will likely continue to unfold as time goes on. Hence, the company needs to be flexible with its approach.

The U.S. market is driving Covid-19 booster orders. At their Q1 2022 earnings call, Moderna highlighted that orders are a positive tailwind for the company. U.S. sales will be even more positive for Moderna in the future as the U.S. is expected to see an influx of new customers and patients. Many private sectors, including underserved individuals, will be taking an active role in the procurement of vaccines and setting the pricing. There is also likely to be a rise in Covid-19 vaccine prices as medication costs increase nationwide.

MRNA stock has been rising for some time now and the company anticipates continued gains. However, it may see a decline in its performance due to the recent departure of its CFO. However, I think Moderna will bounce back soon.

On the publication date, Faizan Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.