Moderna’s second-quarter sales fell less sharply than Wall Street expected as it works to expand its offerings amid weakening demand for its Covid-19 vaccine.

Despite the overall decline in commercial product revenue, Moderna was also pleasantly surprised by Q2 Spikevax sales, which came in above the company’s expectations thanks to a “stronger-than-expected U.S. spring booster season,” CFO Jamey Mock said on an analyst call Friday.

Moderna trimmed its 2025 revenue forecast on Friday after UK deliveries of some COVID vaccines were deferred to next year, overshadowing lower-than-expected second-quarter loss and sending its shares down 7%.

Moderna Inc. shares declined as the company’s cost-cutting efforts failed to assuage investors who are worried about the decline of its Covid vaccine business.