NEW YORK — Moderna shares fell as much as 8% Thursday, after the Wall Street Journal report that the company is exploring a deal to buy Peloton.

The Journal reported that Peloton is in discussions to buy Moderna, the world’s largest maker of air bags, and would include a $1 billion cash injection for the company.

The report comes amid rising concerns about the company’s financial health and a lack of revenue growth.

The stock is down 5% to $18.84 a share.

Moderna is up nearly 17% over the past year, or $2.2 billion.

In an e-mailed statement to CNBC, Peloton spokeswoman Jennifer Reardon said the company was “looking into all options for the future of Moderna.”

Peloton also said it has an ongoing discussion with Moderna and is “notifying its shareholders that Moderna has terminated its agreement with Peloton.”