Today, 4:36 PMModerna posts a Q4 2025 beat with $678M revenue and a narrowed GAAP loss of $2.11/share, cuts 2025 operating expenses by about $2.2B (above targets), reiterates a 2026 outlook of up to ~10% revenue growth with a ~50/50 U.S.-international mix, guides to ~$0.9B cost of sales, $3.0B R&D, $1.0B SG&A and year-end cash of $5.5–$6.0B; EU/Canada/Australia flu filings were accepted, but after the FDA refused to review its mRNA flu vaccine the CFO says it’s too early to judge a 2028 break-even. On the call, Moderna also announced a global commercialization pact with Recordati for its propionic acidemia program, leveraging the partner’s rare-disease infrastructure for a potential 2028 launch.
Moderna, Inc. engages in the development of transformative medicines based on messenger ribonucleic acid. The firm's product pipeline includes the following modalities: prophylactic vaccines, cancer vaccines, intratumoral immuno-oncology, localized regenerative therapeutics, systemic secreted therapeutics, inhaled pulmonary therapeutics and systemic intracellular therapeutics. It operates through the following geographical segments: United States, Europe, and Rest of World. The company was founded by Noubar B. Afeyan, Robert S. Langer, Jr., Derrick J. Rossi, and Kenneth R. Chien in 2010 and is headquartered in Cambridge, MA.
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