Up to $54.3 million CEPI investment aims to help advance Moderna’s H5 pandemic influenza vaccine candidate to licensure
Partnership strengthens global preparedness against a significant pandemic threat
If licensed and in the event of an influenza pandemic, Moderna will allocate 20% of its H5 pandemic vaccine manufacturing capacity for timely supply to low- and middle-income countries at affordable pricing
OSLO, NORWAY and CAMBRIDGE, MA / ACCESS Newswire / December 18, 2025 / The Coalition for Epidemic Preparedness Innovations (CEPI) will invest up to $54.3 million to support a pivotal Phase 3 clinical trial that aims to help advance Moderna’s investigational mRNA-based H5 pandemic influenza vaccine candidate, mRNA-1018, to licensure. The funding marks a significant step forward in global pandemic preparedness that could enable fast, equitable access to vaccines for one of the world’s most pressing health threats.
This Phase 3 study would be the first mRNA-based vaccine targeting pandemic influenza to enter a pivotal trial. If the vaccine candidate is licensed, it would expand the current global portfolio of H5 vaccines with a rapid-response platform that could revolutionize future pandemic responses, making a significant contribution to CEPI’s 100 Days Mission, a global goal to develop safe and effective vaccines within 100 days of a new pandemic threat being identified.
Dr Richard Hatchett, Chief Executive Officer of CEPI said:
“Pandemic influenza remains one of the greatest threats to global health security. With this partnership, we are not just advancing vaccine science, we are fundamentally changing the game. By harnessing the speed and adaptability of mRNA technology, we could shave months off the response time, deliver vaccines at scale, and enable equitable access for all. This is how we plan to protect the world from the next flu pandemic.”
Stéphane Bancel, Chief Executive Officer of Moderna said:
“We are proud to have the support of CEPI to advance our pandemic influenza vaccine candidate, research that is critical to our commitment to pandemic preparedness. mRNA technology can play a vital role in addressing emerging health threats quickly and effectively, and we look forward to continuing our partnership with CEPI as we advance our health security portfolio, and in parallel, further the 100 Days Mission.”
A potential first-in-class mRNA vaccine for pandemic influenza
Conventional influenza vaccines require virus growth in eggs or cell culture, a process that can take months. By contrast, an mRNA vaccine can be designed in hours or days as soon as the virus’s genetic sequence is known and swiftly manufactured at scale. The combination of speed, adaptability and scalability offered by mRNA technology is a potential critical advantage when a new pandemic strain emerges and every day that passes could cost lives.
If licensure is granted, Moderna is committed to working to provide people around the world with rapid, equitable access to the resulting H5 vaccine in the event of a pandemic. As part of this agreement, Moderna will allocate 20% of its H5 pandemic vaccine manufacturing capacity for timely supply to low- and middle-income countries at affordable pricing.
The Phase 3 trial, set to begin early in 2026, will evaluate the safety and immunogenicity of Moderna’s H5 vaccine candidate in populations in the UK and U.S. It will build upon positive Phase 1/2 results which showed rapid and persistent immune responses in healthy adults aged 18 years and older. Potential licensure of the vaccine will also leverage data from a pivotal Phase 3 trial of Moderna’s investigational seasonal influenza vaccine, mRNA-1010.
This project is part of CEPI and Moderna’s strategic partnership, which aims to harness Moderna’s mRNA platform to accelerate epidemic and pandemic vaccine development.
ENDS
About CEPI
CEPI is an innovative partnership between public, private, philanthropic, and civil organisations. Its mission is to accelerate the development of vaccines and other biologic countermeasures against epidemic and pandemic threats so they can be accessible to all people in need. CEPI has supported the development of more than 70 vaccine candidates or platform technologies against multiple known high-risk pathogens or a future Disease X. Central to CEPI’s pandemic-beating plan is the ‘100 Days Mission’ to accelerate the time taken to develop safe, effective and accessible vaccines against new threats to just 100 days. Learn more at CEPI.net.
About Moderna
Moderna is a pioneer and leader in the field of mRNA medicine. Through the advancement of its technology platform, Moderna is reimagining how medicines are made to transform how we treat and prevent diseases. Since its founding, Moderna’s mRNA platform has enabled the development of vaccines and therapeutics across infectious diseases, cancer, rare diseases and more.
With a global team and a unique culture, driven by the company’s values and mindsets, Moderna’s mission is to deliver the greatest possible impact to people through mRNA medicines. For more information about Moderna, please visit modernatx.com and connect with us on X, Facebook, Instagram, YouTube and LinkedIn.
Moderna Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding: CEPI’s investment to advance Moderna’s H5 pandemic influenza vaccine candidate; the potential for licensure of mRNA-1018; the safety and immunogenicity of mRNA-1018; the potential for mRNA technology to effectively address emerging health threats; and Moderna’s ability to manufacture at scale. The forward-looking statements in this press release are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond Moderna’s control and which could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These risks, uncertainties, and other factors include, among others, those risks and uncertainties described under the heading “Risk Factors” in Moderna’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and in subsequent filings made by Moderna with the U.S. Securities and Exchange Commission, which are available on the SEC’s website at www.sec.gov. Except as required by law, Moderna disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this press release in the event of new information, future developments or otherwise. These forward-looking statements are based on Moderna’s current expectations and speak only as of the date of this press release.
CAMBRIDGE, MA / ACCESS Newswire / December 17, 2025 / Moderna, Inc. (Nasdaq:MRNA) today announced it will present at the 44th annual J.P. Morgan Healthcare Conference on Monday, January 12th at 7:30 p.m. ET / 4:30 p.m. PT.
A live webcast of the presentation will be available under “Events and Presentations” in the Investors section of the Moderna website at investors.modernatx.com.
A replay of the webcast will be archived on Moderna’s website for at least 30 days following the presentation.
About Moderna
Moderna is a pioneer and leader in the field of mRNA medicine. Through the advancement of its technology platform, Moderna is reimagining how medicines are made to transform how we treat and prevent diseases. Since its founding, Moderna’s mRNA platform has enabled the development of vaccines and therapeutics across infectious diseases, cancer, rare diseases and more.
With a global team and a unique culture, driven by the company’s values and mindsets, Moderna’s mission is to deliver the greatest possible impact to people through mRNA medicines. For more information about Moderna, please visit modernatx.com and connect with us on X, Facebook, Instagram, YouTube and LinkedIn.
Investors: Lavina Talukdar Senior Vice President & Head of Investor Relations 617-209-5834 Lavina.Talukdar@modernatx.com
mNEXSPIKE is Moderna’s third product to receive a positive CHMP opinion alongside Spikevax (COVID-19 Vaccine, mRNA) and mRESVIA (Respiratory Syncytial Virus Vaccine)
mNEXSPIKE will be available in the European Union, subject to authorization by the European Commission
CAMBRIDGE, MA / ACCESS Newswire / December 15, 2025 / Moderna, Inc. (NASDAQ:MRNA) today announced that the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP) has adopted a positive opinion recommending marketing authorization of mNEXSPIKE® (mRNA-1283), a new COVID vaccine, for active immunization to prevent COVID-19 caused by SARS-CoV-2 in individuals aged 12 years and older. Following the CHMP’s positive opinion, the European Commission will make a marketing authorization decision.
The CHMP’s positive opinion for mNEXSPIKE reflects Moderna’s continued commitment to advancing innovative vaccines that protect the most vulnerable,” said Stéphane Bancel, Chief Executive Officer of Moderna. “Across Europe, adults aged 65 and older remain disproportionately affected by severe COVID outcomes, and if authorized, mNEXSPIKE will be another important tool in addressing this ongoing public health need. Europe represents a significant market for respiratory virus vaccines, and we are excited about the opportunity to drive sales growth in 2026 and 2027 through this potential new product launch and geographic diversification. I want to thank our teams for their exceptional work and the EMA for its thorough assessment.”
Across Europe, COVID-19 continues to persist year-round, with periodic case increases driven by waning immunity and the emergence of new Omicron-lineage variants, as demonstrated through the European Centre for Disease Prevention and Control’s (ECDC) respiratory virus surveillance system.[1] These trends confirm that COVID-19 has become an established, endemic respiratory pathogen in the region, requiring targeted protection for vulnerable populations.
The CHMP’s positive opinion for mNEXSPIKE is supported by results from a randomized, observer-blind, active-controlled Phase 3 clinical trial (ClinicalTrials.gov Identifier: NCT05815498), which enrolled approximately 11,400 participants aged 12 years and older. The primary efficacy objective in this study was to demonstrate the non-inferior vaccine efficacy against COVID-19 starting 14 days after mNEXSPIKE compared to that after the comparator vaccine, mRNA-1273 (Spikevax®), Moderna’s original COVID-19 vaccine. Participants received either a 10 μg dose of mRNA-1283 or a 50 μg dose of mRNA-1273. mRNA-1283 showed a 9.3% higher relative vaccine efficacy (rVE) compared to mRNA-1273 in individuals aged 12 years and older, and in a descriptive sub-group analysis, a 13.5% higher rVE in adults aged 65 and older.
In the Phase 3 trial, mRNA-1283 was found to have a similar safety profile to mRNA-1273, with fewer local reactions and comparable systemic reactions. The most commonly solicited side effects were injection site pain, fatigue, headache and myalgia.
Subject to the European Commission’s decision, Moderna expects to make mNEXSPIKE available in Europe pending regulatory timelines and local market access pathways. mNEXSPIKE is Moderna’s third product to receive a positive CHMP opinion alongside Spikevax and mRESVIA®, the Company’s approved respiratory syncytial virus (RSV) vaccine.
Moderna has filed mRNA-1283 for approval with regulators in multiple markets around the world, and has received approval from the U.S. Food and Drug Administration (FDA) and Health Canada.
About Moderna
Moderna is a pioneer and leader in the field of mRNA medicine. Through the advancement of its technology platform, Moderna is reimagining how medicines are made to transform how we treat and prevent diseases. Since its founding, Moderna’s mRNA platform has enabled the development of vaccines and therapeutics across infectious diseases, cancer, rare diseases and more.
With a global team and a unique culture, driven by the company’s values and mindsets, Moderna’s mission is to deliver the greatest possible impact to people through mRNA medicines. For more information about Moderna, please visit modernatx.com and connect with us on X, Facebook, Instagram, YouTube and LinkedIn.
Spikevax®, mRESVIA® and mNEXSPIKE® are registered trademarks of Moderna.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding: the availability of mNEXSPIKE in Europe for the 2026-2027 season; the European Commission’s pending marketing authorization decision; the opportunity in the European respiratory virus vaccine market; the ability of Moderna’s COVID vaccines to generate an immune response and to protect against circulating COVID strains; and the safety profile of mNEXSPIKE. The forward-looking statements in this press release are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond Moderna’s control and which could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These risks, uncertainties, and other factors include, among others, those risks and uncertainties described under the heading “Risk Factors” in Moderna’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and in subsequent filings made by Moderna with the U.S. Securities and Exchange Commission, which are available on the SEC’s website at www.sec.gov. Except as required by law, Moderna disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this press release in the event of new information, future developments or otherwise. These forward-looking statements are based on Moderna’s current expectations and speak only as of the date of this press release.
Announces three-year business strategy and commercial growth drivers, targeting up to 10% revenue growth in 2026
Expects to expand seasonal vaccine franchise from three to up to six approved products by 2028
Targets readouts from nine ongoing Phase 2 and Phase 3 clinical studies in its oncology pipeline, including three Phase 3 programs for intismeran autogene
Further improves 2026 and 2027 expected GAAP operating expenses by approximately $0.5 billion each year on path to targeted cash breakeven in 2028
CAMBRIDGE, MA / ACCESS Newswire / November 20, 2025 / Moderna, Inc. (NASDAQ:MRNA) today announced program and financial updates at its Analyst Day event. The updates include mRNA pipeline progress and a three-year plan for strategic growth.
“Over the next three years, we expect to build a large seasonal vaccine franchise for at-risk populations and invest the cash generated into oncology and rare disease therapeutics,” said Stéphane Bancel, CEO of Moderna. “We plan to deliver up to 10 percent revenue growth in 2026 while continuing to reduce our R&D investments and diversify further into oncology. Our financial outlook remains strong, and we are focused on disciplined execution as we advance our pipeline and bring innovative mRNA medicines to patients around the world.”
Business Strategy & Commercial Growth Drivers
Over the near term, Moderna will continue to build a large seasonal vaccine franchise targeting at-risk populations and propelling the Company to 2028 cash breakeven. The Company expects to invest the cash generated from its marketed products, Spikevax®, mRESVIA® and mNEXSPIKE®-as well as from anticipated launches of influenza, flu/COVID combination and Norovirus vaccines-into its oncology and rare disease programs. Investments in late-stage oncology and rare disease programs set the stage for additional growth in 2027 and 2028, with early-stage pipeline investments expected to mature in 2029 and beyond.
Commercial growth drivers include geographic expansion and new product launches. In 2026, the Company expects growth from the annualized impact of long-term partnerships in the UK, Canada and Australia that enhance research and development (R&D) investment, support national security and defense, and provide revenue visibility through onshore manufacturing. The Company also expects continued strong uptake of mNEXSPIKE in the U.S. and its launch in other countries.
In 2027, Europe represents a significant market for respiratory virus vaccines, as a competitor COVID contract lapses and more product approvals are expected. New potential long-term partnerships in Latin America and Asia-Pacific, as well as entry into the flu vaccine market, also position the Company for further expansion.
In 2028, Moderna anticipates a first-to-market flu/COVID combination vaccine and continued momentum with a potential novel Norovirus vaccine, expanding its seasonal franchise to as many as six approved products.
The Company’s existing commercial infrastructure supports these seasonal vaccine growth drivers. A focused Moderna U.S. commercial team engages the same customers across the retail pharmacy, government and healthcare provider (IDN) channels, and teams supporting the UK, Canada and Australia partnerships are established. Additionally, Moderna’s EU commercial infrastructure is in place and targeted investments will be made as needed.
Global Production Network
Since 2022, Moderna has streamlined its production sites into a global manufacturing network ready for new launches and delivering products for multi-year strategic partnerships. The Company exited eight contract manufacturers, announced new drug product capabilities in the U.S., and added three Moderna-built and managed facilities in the UK, Canada and Australia. Increased volume, manufacturing efficiency and waste reduction across Moderna sites is expected to drive a projected 10% improvement in gross margins over the next three years.
In the U.S., Moderna’s facility in Norwood, Massachusetts, enables scalable, end-to-end production by incorporating automation, robotics and AI to increase cost efficiency and reduce waste. The addition of new fill/finish capabilities in 2027 will provide end-to-end control and flexibility with greater speed.
Three new global sites in Laval, Canada; Harwell, UK; and Clayton, Australia enable local access to mRNA medicines and drive revenue diversification. These manufacturing facilities position the Company to deliver cost-optimized growth with margins consistent with U.S. operations.
The Marlborough, Massachusetts, facility was purpose-built for Moderna’s individualized neoantigen therapy, intismeran. Designed for speed and scalability with advanced automation and robotics, the site began clinical batch supply in September 2025 and is on track for commercial launch as the Company methodically right-sizes the intismeran manufacturing process to improve turnaround time and reduce costs.
Pipeline Progress
Highlights from Moderna’s approved vaccines and prioritized portfolio include:
Seasonal Vaccines
Spikevax (mRNA-1273, COVID-19 vaccine): Approved in 40 countries.
mNEXSPIKE (mRNA-1283, COVID-19 vaccine): Approved in the U.S. and Canada. The Company has filed and is targeting 2026 approvals in Australia, the EU, Japan and Taiwan.
mRESVIA (mRNA-1345, RSV vaccine): Approved in 40 countries for adults aged 60 and older, and in 31 of those countries for adults 18-59 at increased risk for RSV disease.
mRNA-1010 (Seasonal Influenza vaccine): Moderna expects to complete submissions for approval of mRNA-1010 in the U.S., EU, Canada and Australia by January 2026.
mRNA-1083 (Seasonal flu + COVID combination vaccine): The Company’s mRNA-1083 filing is under review with the European Medicines Agency (EMA).Moderna submitted for approval to Health Canada in 2025. The Company is awaiting further guidance from the U.S. FDA on refiling.
mRNA-1403 (Norovirus vaccine): The ongoing Phase 3 study has not accrued sufficient cases and is enrolling a second Northern Hemisphere season (2025-2026) for additional case accruals, which will inform the timing of the Phase 3 readout. Moderna expects an interim analysis in 2026.
Oncology Therapeutics
mRNA-4157 (Intismeran autogene): Advancing in collaboration with Merck, with eight Phase 2 and Phase 3 clinical trials underway across multiple tumor types including melanoma, non-small cell lung cancer (NSCLC), bladder cancer and renal cell carcinoma.
mRNA-4359 (Cancer antigen therapy): Designed to elicit T-cell immune responses against tumor and immunosuppressive cells, the Phase 1/2 study is ongoing with the Phase 2 portion including cohorts in first-line metastatic melanoma and first-line metastatic NSCLC.
Rare Disease Therapeutics
mRNA-3927 (Propionic Acidemia therapeutic): Reached target enrollment in a registrational study.
mRNA-3705 (Methylmalonic Acidemia therapeutic): Selected for the U.S. FDA’s START program, with a registrational study expected to begin in 2026.
For more details on the data and programmatic updates shared during Moderna’s Analyst Day investor event today, please visit “Events and Presentations” in the Investors section of the Moderna website.
Programs Discontinued
Based on the Company’s strategic prioritization, four programs in its pipeline are discontinued:
mRNA-1647: The Company is discontinuing its congenital Cytomegalovirus (CMV) clinical development program. Moderna will continue to evaluate mRNA-1647 in an ongoing Phase 2 trial of bone marrow transplant patients.
mRNA-1608: The Company’s herpes simplex virus (HSV) clinical development program will not advance to Phase 3.
mRNA-1468: The Company’s Varicella-Zoster virus (VZV) clinical development program will not advance to Phase 3.
mRNA-3745: The Company’s Glycogen Storage Disease Type 1a (GSD1a) clinical development program will not advance to Phase 2.
Financial Updates
Moderna expects up to 10% revenue growth in 2026, driven by the annualized impact of its long-term partnerships with the UK, Canada and Australia and continued strong uptake of mNEXSPIKE in the U.S. and launches in other countries. In addition, the Company has multiple growth opportunities in 2027 and beyond.
The Company is reducing its 2026 and 2027 expected cash costs to approximately $4.2 billion and a range of $3.5 to $3.9 billion, respectively. Moderna will achieve this through disciplined cost management and R&D prioritization, while manufacturing improvements are projected to improve gross margins by more than 10 percentage points over the next three years.
Moderna is increasing its R&D investment allocation in oncology and rare diseases as large infectious disease investments conclude. The Company’s balance sheet sufficiently funds its investments through targeted cash breakeven in 2028.
Today, Moderna announced it has closed a five-year term loan facility for up to $1.5 billion of capital from Ares Management Credit Funds. The non-dilutive financing bolsters the Company’s strong balance sheet and provides increased flexibility. Moderna remains confident in its strong financial framework with enhanced liquidity and today updated its 2025 projected year-end cash and investment balance to a range of $7.1 to $7.6 billion, tied to the $0.6 billion initial loan draw and increased from previous expectations of $6.5 to $7.0 billion.
About Moderna
Moderna is a pioneer and leader in the field of mRNA medicine. Through the advancement of its technology platform, Moderna is reimagining how medicines are made to transform how we treat and prevent diseases. Since its founding, Moderna’s mRNA platform has enabled the development of vaccines and therapeutics across infectious diseases, cancer, rare diseases and more.
With a global team and a unique culture, driven by the company’s values and mindsets, Moderna’s mission is to deliver the greatest possible impact to people through mRNA medicines. For more information about Moderna, please visit modernatx.com and connect with us on X, Facebook, Instagram, YouTube and LinkedIn.
Spikevax®, mRESVIA® and mNEXSPIKE® are registered trademarks of Moderna.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding: Moderna’s anticipated commercial growth drivers, including geographic expansion and new product launches; Moderna’s ability to achieve up to 10% revenue growth in 2026; Moderna’s ability to expand its seasonal vaccine franchise to up to six approved products by 2028; anticipated clinical readouts for Moderna’s oncology pipeline; Moderna’s 2026 and 2027 expected GAAP operating expenses; Moderna’s continued cost management and R&D prioritization and ability to reduce cash costs; Moderna’s balance sheet and targeted cash breakeven in 2028; Moderna’s 2025 projected year-end cash and investment balance; Moderna’s investments in its oncology and rare disease programs; additional growth in 2027-2028; anticipated strong update of mNEXSPIKE in 2026; Moderna’s global production network; the expectation that manufacturing improvements will improve gross margins over the next three years; anticipated regulatory filings and potential approvals; and anticipated milestones for Moderna’s pipeline programs. In some cases, forward-looking statements can be identified by terminology such as “will,” “may,” “should,” “could,” “expects,” “intends,” “plans,” “aims,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. The forward-looking statements in this press release are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond Moderna’s control and which could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These risks, uncertainties, and other factors include, among others, those risks and uncertainties described under the heading “Risk Factors” in Moderna’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission (SEC), and in subsequent filings made by Moderna with the SEC, which are available on the SEC’s website at www.sec.gov. Except as required by law, Moderna disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this press release in the event of new information, future developments or otherwise. These forward-looking statements are based on Moderna’s current expectations and speak only as of the date of this press release.
Non-dilutive financing from premier lender bolsters strong balance sheet and provides increased flexibility
Company reiterates 2025 financial guidance provided on 3Q25 earnings call and targets cash breakeven by 2028
CAMBRIDGE, MA / ACCESS Newswire / November 20, 2025 / Moderna, Inc. (NASDAQ:MRNA) today announced it has closed a five-year term loan facility for up to $1.5 billion of capital from Ares Management Credit Funds (Ares), a leading global alternative investment manager, to increase flexibility.
The non-dilutive debt financing consists of three tranches over five years, including:
A $600 million initial term loan funded at closing
A $400 million delayed draw term loan facility (DDTL), available in multiple draws at Moderna’s discretion through November 2027
An additional $500 million DDTL, available in multiple draws at Moderna’s discretion through November 2028. This tranche is contingent on the achievement of key regulatory milestones aligned with Moderna’s late-stage clinical pipeline
“While we remain well-positioned to achieve our 2028 cash breakeven target, this additional capital enhances our strong balance sheet and enables increased flexibility over the coming years,” said Jamey Mock, Chief Financial Officer of Moderna. “Ares is a highly reputable lender in the healthcare space, and we are proud to have their valuable financial backing in pursuit of our long-term financial targets.”
“We are pleased to provide flexible capital to Moderna at this pivotal moment in their growth trajectory,” said Doug Dieter, DrPH, Co-Head of Ares Specialty Healthcare. “Moderna has already demonstrated the power of its mRNA platform with multiple commercial products and has an impressive and differentiated clinical pipeline. This investment reflects Moderna’s disciplined approach to capital management and our support of their long-term financial strategy.”
Moderna will host its Analyst Day event for investors at 9:00 a.m. ET on November 20, 2025. A live webcast of the presentation will be available under “Events and Presentations” in the Investors section of the Moderna website: https://investors.modernatx.com/. A replay of the webcast will be archived on Moderna’s website for at least 30 days following the presentation.
About Moderna
Moderna is a pioneer and leader in the field of mRNA medicine. Through the advancement of its technology platform, Moderna is reimagining how medicines are made to transform how we treat and prevent diseases. Since its founding, Moderna’s mRNA platform has enabled the development of vaccines and therapeutics across infectious diseases, cancer, rare diseases and more.
With a global team and a unique culture, driven by the company’s values and mindsets, Moderna’s mission is to deliver the greatest possible impact to people through mRNA medicines. For more information about Moderna, please visit modernatx.com and connect with us on X, Facebook, Instagram, YouTube and LinkedIn.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding: Moderna’s credit facility with Ares; Moderna’s financial condition and operational flexibility; Moderna’s 2025 financial guidance; Moderna’s 2028 cash breakeven target; and Moderna’s ability to achieve key regulatory milestones aligned with its late-stage pipeline and to draw on future tranches. The forward-looking statements in this press release are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond Moderna’s control and which could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These risks, uncertainties, and other factors include, among others, those risks and uncertainties described under the heading “Risk Factors” in Moderna’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and in subsequent filings made by Moderna with the U.S. Securities and Exchange Commission, which are available on the SEC’s website at www.sec.gov. Except as required by law, Moderna disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this press release in the event of new information, future developments or otherwise. These forward-looking statements are based on Moderna’s current expectations and speak only as of the date of this press release.
New capabilities strengthen U.S. production, completing Moderna’s domestic end-to-end mRNA manufacturing network
More than $140 million investment will create hundreds of highly skilled biomanufacturing jobs
CAMBRIDGE, MA / ACCESS Newswire / November 19, 2025 / Moderna, Inc. (NASDAQ:MRNA) today announced the expansion of its U.S. manufacturing capabilities with the onshoring of Drug Product manufacturing to its existing Moderna Technology Center (“MTC”) in Norwood, Massachusetts. Through this strategic onshoring, Moderna will now operate full end-to-end manufacturing for its mRNA medicines in the U.S. This milestone marks a significant step in strengthening Moderna’s U.S. manufacturing network, supporting both commercial and clinical supply, and reinforcing the Company’s commitment to domestic mRNA production.
“By onshoring Drug Product manufacturing to our campus in Norwood, Massachusetts, we have completed the full manufacturing loop under one roof in the U.S.,” said Stéphane Bancel, Chief Executive Officer of Moderna. “As an American company committed to building and producing in America, we are proud to strengthen our domestic footprint while bringing meaningful new jobs to the community.”
The expansion reflects Moderna’s ongoing investment in U.S.-based infrastructure and its commitment to build a robust, domestic manufacturing platform capable of supporting its pipeline of mRNA vaccines and therapeutics. Moderna’s innovative mRNA platform, first widely recognized globally during the Company’s partnership with the U.S. Government through Operation Warp Speed, continues to drive potential biomedical breakthroughs across infectious diseases, cancer, rare diseases and autoimmune disorders.
Construction at MTC for the new Drug Product manufacturing capability has started with Moderna targeting completion by the first half of 2027.
About Moderna Moderna is a pioneer and leader in the field of mRNA medicine. Through the advancement of its technology platform, Moderna is reimagining how medicines are made to transform how we treat and prevent diseases. Since its founding, Moderna’s mRNA platform has enabled the development of vaccines and therapeutics across infectious diseases, cancer, rare diseases and more.
With a global team and a unique culture, driven by the company’s values and mindsets, Moderna’s mission is to deliver the greatest possible impact to people through mRNA medicines. For more information about Moderna, please visit modernatx.com and connect with us on X, Facebook, Instagram, YouTube and LinkedIn.
Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding: Moderna’s U.S. manufacturing network and ongoing investment in U.S.-based infrastructure; the potential of Moderna’s mRNA platform; Moderna’s targeted completion of its new Drug Product manufacturing capability by the first half of 2027; and expected job creation. The forward-looking statements in this press release are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond Moderna’s control and which could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These risks, uncertainties, and other factors include, among others, those risks and uncertainties described under the heading “Risk Factors” in Moderna’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and in subsequent filings made by Moderna with the U.S. Securities and Exchange Commission, which are available on the SEC’s website at www.sec.gov. Except as required by law, Moderna disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this press release in the event of new information, future developments or otherwise. These forward-looking statements are based on Moderna’s current expectations and speak only as of the date of this press release.
Moderna Contacts Media: Chris Ridley Head of Global Media Relations +1 617-800-3651 Chris.Ridley@modernatx.com
Investors: Lavina Talukdar Senior Vice President & Head of Investor Relations +1 617-209-5834 Lavina.Talukdar@modernatx.com
Reports third quarter revenue of $1.0 billion, GAAP net loss of $(0.2) billion and GAAP EPS of $(0.51)
Narrows 2025 projected revenue range to $1.6 – $2.0 billion
Improves 2025 expected GAAP operating expenses by $0.7 billion to a range of $5.2 – $5.4 billion
Increases 2025 expected year-end cash balance by $0.5 billion – $1 billion to a range of $6.5 – $7.0 billion
CAMBRIDGE, MA / ACCESS Newswire / November 6, 2025 / Moderna, Inc. (NASDAQ:MRNA) today reported financial results and provided business updates for the third quarter of 2025.
“We delivered strong commercial and financial performance in the third quarter, supported by COVID vaccine sales following the successful launch of mNEXSPIKE and a significant improvement in expected 2025 operating expenses from our ongoing cost-reduction initiatives,” said Stéphane Bancel, Chief Executive Officer of Moderna. “We remain highly focused on operational excellence and financial discipline to advance our pipeline and expand the reach of our commercial portfolio. We look forward to sharing further updates on our business and pipeline at our annual Analyst Day on November 20.”
Recent progress includes:
Commercial Updates
COVID–19: The Company reported $971 million in COVID vaccine sales in the third quarter of 2025, which includes $781 million of U.S. sales and $190 million of international sales. The Company has received approval in 40 countries of its 2025-2026 formula for Spikevax®. Moderna has also received U.S. Food and Drug Administration (FDA) approval of its 2025-2026 formula for mNEXSPIKE®, the Company’s new COVID vaccine in all adults aged 65 and older, as well as individuals aged 12-64 years with at least one underlying risk factor. mNEXSPIKE is also approved in Canada and the Company has filed and is targeting 2026 approvals in Australia, the EU, Japan and Taiwan.
RSV: The Company reported $2 million in mRESVIA® sales in the third quarter of 2025. mRESVIA, the Company’s vaccine for the prevention of lower respiratory tract disease (LRTD) caused by RSV, is approved for all adults aged 60 years and older in 40 countries. It is also approved in 31 of those countries for individuals 18-59 years of age who are at increased risk for disease.
Third Quarter 2025 Financial Results
Revenue: Total revenue for the third quarter of 2025 was $1.0 billion, a 45% decrease from $1.9 billion in the same period in 2024. The decline was primarily driven by a $847 million, or 47%, decrease in net product sales, mainly due to lower COVID vaccine sales. In the U.S., the decrease reflected reduced vaccination rates year over year. The third quarter of 2024 also included an approximately $140 million positive adjustment related to prior-period sales provision estimates, which did not recur in 2025. During the quarter, the Company initiated commercial sales in the U.S. of mNEXSPIKE, as part of the 2025-2026 respiratory virus season.Outside the U.S., revenue decreased primarily due to the completion of certain government contracts and the timing of deliveries.
Cost of Sales: Cost of sales for the third quarter of 2025 was $207 million, which included third-party royalties of $43 million and inventory write-downs of $67 million. Cost of sales decreased 60% compared to the same period in 2024, primarily reflecting lower inventory write-downs and reduced unutilized manufacturing capacity, as well as lower sales volume. As a percentage of net product sales, cost of sales was 21% compared to 28% in the third quarter of 2024. The improvement was mainly driven by productivity gains and efficiencies across manufacturing operations despite lower volumes.
Research and Development Expenses: Research and development expenses for the third quarter of 2025 were $801 million, a 30% decrease compared to the same period in 2024. The reduction was primarily driven by continued investment prioritization and efficiency gains in the execution of clinical trials. Last year’s results also included an expense related to the purchase of a priority review voucher.
Selling, General and Administrative Expenses: Selling, general and administrative expenses for the third quarter of 2025 were $268 million, a 5% decrease compared to the same period in 2024. The decline was primarily driven by reductions in consulting and external services across multiple functions, as well as lower digital and facility-related costs, reflecting the Company’s continued cost discipline and ongoing efforts to streamline operations.
Income Taxes: Income tax provisions for both periods were not material, as the Company continues to maintain a global valuation allowance against most of its deferred tax assets.
Net Income (Loss): Net loss was $(200) million for the third quarter of 2025, compared to net income of $13 million for the third quarter of 2024.
Earnings (Loss) Per Share: Loss per share was $(0.51) for the third quarter of 2025, compared to earnings per share of $0.03 for the third quarter of 2024.
Cash Position: Cash, cash equivalents and investments as of September 30, 2025, were $6.6 billion, compared to $7.5 billion as of June 30, 2025. The decrease during the quarter was primarily driven by seasonal impacts on working capital.
2025 Financial Framework
Revenue: The Company narrowed its 2025 projected revenue range from $1.5 to $2.2 billion to $1.6 to $2.0 billion, reflecting third quarter results and expectations for the remainder of the year.
Cost of Sales: Cost of sales for 2025 is expected to be approximately $0.8 to $0.9 billion, lowered from $1.2 billion.
Research and Development Expenses: Research and development expenses for 2025 are anticipated to be $3.3 to $3.4 billion, lowered from previous expectations of $3.6 to $3.8 billion.
Selling, General and Administrative Expenses: Selling, general and administrative expenses for 2025 are projected to be approximately $1.1 billion.
Income Taxes: The Company continues to expect its full-year tax expense to be negligible.
Capital Expenditures: Capital expenditures for 2025 are expected to be approximately $0.3 billion.
Cash and Investments: Year-end cash and investments for 2025 are projected to be $6.5 to $7 billion, increased from previous expectations of approximately $6 billion.
Recent Progress and Upcoming Late-Stage Pipeline Milestones
Respiratory vaccines:
Seasonal flu vaccine: In October 2025, Moderna presented Phase 3 efficacy and safety data for its seasonal flu vaccine (mRNA-1010) at IDWeek 2025, and Phase 3 relative vaccine efficacy in a high-risk subset of patients at The European Scientific Working Group on Influenza (ESWI) Conference 2025. The Company expects to complete submissions for approval of mRNA-1010 in the U.S., Canada, Australia and Europe by January 2026.
Seasonal flu + COVID vaccine: The Company presented Phase 3 immunogenicity subanalyses for its flu/COVID combination vaccine (mRNA-1083) for adults aged 50 years and older at ESWI 2025. The Company expects to refile with Health Canada in 2025 and is awaiting further guidance from U.S. FDA on refiling. Currently, the Company’s mRNA-1083 filing is under review with the European Medicines Agency (EMA).
Latent and other vaccines:
Norovirus vaccine: Moderna’s ongoing Phase 3 safety and efficacy study of its trivalent vaccine against norovirus (mRNA-1403) has not accrued sufficient cases and will now enroll a second Northern Hemisphere season (2025-2026) for additional case accruals. The timing of the Phase 3 readout will continue to be dependent on case accruals.
Cytomegalovirus (CMV) vaccine: After announcing that the Phase 3 study of mRNA-1647 did not meet its primary efficacy endpoint, Moderna is discontinuing development of its congenital CMV program. The Company will continue to evaluate mRNA-1647 in an ongoing Phase 2 trial of bone marrow transplant patients.
Oncology therapeutics:
Intismeran autogene: Moderna continues to make progress on advancing mRNA-4157 in the clinic.In collaboration with Merck, the Phase 3 clinical trial for adjuvant melanoma is fully enrolled. Two non-small cell lung cancer (NSCLC) Phase 3 studies for those with and without prior neoadjuvant treatment are enrolling. Separate randomized Phase 2 studies for high-risk muscle invasive and high-risk non-muscle invasive bladder cancer are enrolling, a Phase 2 study of first-line treatment for patients with metastatic melanoma is also enrolling, and a randomized Phase 2 study for adjuvant renal cell carcinoma is fully enrolled. Further, Moderna and Merck have launched a new Phase 2 study of first-line treatment for patients with metastatic squamous NSCLC.
mRNA-4359: The Phase 1/2 study of mRNA-4359, Moderna’s investigational mRNA-based therapy designed to elicit T-cell immune responses against tumor and immunosuppressive cells, is ongoing. Phase 1b data for mRNA-4359 was recently presented at the 2025 European Society for Medical Oncology (ESMO) Congress. The Phase 2 portion of the study, which includes cohorts in first-line metastatic melanoma and first-line metastatic NSCLC, is enrolling patients.
Rare disease therapeutics:
Propionic acidemia (PA) therapeutic: The Company recently presented final results from the Part 1 dose-escalation cohorts of its ongoing Phase 1/2 study and cumulative data from ongoing participants in the extension study of its investigational therapeutic for PA (mRNA-3927) at the International Congress of Inborn Errors of Metabolism (ICIEM) 2025. In the study, which is designed to evaluate safety and pharmacology in trial participants with PA, mRNA-3927 has been generally well-tolerated to date with no events meeting protocol-defined dose-limiting toxicity criteria. Previously presented results suggest potential decreases in annualized metabolic decompensation event (MDE) frequency compared to pre-treatment, and the majority of patients have elected to continue on the open label extension study. The Company’s PA candidate is in a registrational study and target enrollment has been reached.
Methylmalonic acidemia (MMA) therapeutic: Moderna recently shared interim data from the Phase 1/2 study of its investigational therapeutic for MMA (mRNA-3705) at ICIEM 2025. mRNA-3705 has been selected by the FDA for the Support for Clinical Trials Advancing Rare Disease Therapeutics (START) pilot program, and the FDA and Moderna have agreed on the pivotal study design. The Company expects to start a registrational study in 2026.
Moderna Corporate Updates
The Company opened its state-of-the-art manufacturing and R&D facility in the UK, which is now licensed by the Medicines and Healthcare products Regulatory Agency (MHRA)
Moderna announced the first made-in-Canada mRNA vaccines were delivered to Canadian provinces and territories
The Company’s manufacturing facility in Australia was recently granted its Good Manufacturing Practice (GMP) license from the Therapeutic Goods Administration (TGA)
Company Accolades
Moderna was recognized on BioSpace‘s Best Places to Work in Biopharma ranking of large employers (fifth consecutive year)
Moderna was ranked as a top employer in the global biopharmaceutical industry by Science on the Science Careers’ 2025 Top Employers Survey (eleventh consecutive year)
Key 2025 Investor and Analyst Event Dates
Analyst Day: November 20
Investor Call and Webcast Information
Moderna will host a live conference call and webcast at 8:00 a.m. ET on November 6, 2025. To access the live conference call via telephone, please register at the link below. Once registered, dial-in numbers and a unique pin number will be provided. A live webcast of the call will also be available under “Events and Presentations” in the Investors section of the Moderna website.
The archived webcast will be available on Moderna’s website approximately two hours after the conference call and will be available for one year following the call.
About Moderna
Moderna is a leader in the creation of the field of mRNA medicine. Through the advancement of mRNA technology, Moderna is reimagining how medicines are made and transforming how we treat and prevent disease for everyone. By working at the intersection of science, technology and health for more than a decade, the company has developed medicines at unprecedented speed and efficiency, including one of the earliest and most effective COVID vaccines.
Moderna’s mRNA platform has enabled the development of therapeutics and vaccines for infectious diseases, immuno-oncology, rare diseases and autoimmune diseases. With a unique culture and a global team driven by the Moderna values and mindsets to responsibly change the future of human health, Moderna strives to deliver the greatest possible impact to people through mRNA medicines. For more information about Moderna, please visit modernatx.com and connect with us on X (formerly Twitter), Facebook, Instagram, YouTube and LinkedIn.
MODERNA, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited, in millions, except per share data)
Three Months Ended September 30,
Nine Months Ended September 30,
2025
2024
2025
2024
Revenue:
Net product sales
$
973
$
1,820
$
1,172
$
2,171
Other revenue1
43
42
94
99
Total revenue
1,016
1,862
1,266
2,270
Operating expenses:
Cost of sales
207
514
416
725
Research and development
801
1,137
2,357
3,421
Selling, general and administrative
268
281
710
823
Total operating expenses
1,276
1,932
3,483
4,969
Loss from operations
(260
)
(70
)
(2,217
)
(2,699
)
Interest income
73
103
244
334
Other income (expense), net
–
(12
)
4
(58
)
(Loss) income before income taxes
(187
)
21
(1,969
)
(2,423
)
Provision for income taxes
13
8
27
18
Net (loss) income
$
(200
)
$
13
$
(1,996
)
$
(2,441
)
Net (loss) earnings per share
Basic
$
(0.51
)
$
0.03
$
(5.15
)
$
(6.37
)
Diluted
$
(0.51
)
$
0.03
$
(5.15
)
$
(6.37
)
Weighted average common shares used in calculation of net (loss) earnings per share
Basic
390
385
388
383
Diluted
390
399
388
383
_______
1Includes grant, collaboration, licensing and royalty, and other miscellaneous revenue.
MODERNA, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited, in millions)
September 30,
December 31,
2025
2024
Assets
Current assets:
Cash and cash equivalents
$
1,132
$
1,927
Investments
3,372
5,098
Accounts receivable, net
1,046
358
Inventory
332
117
Prepaid expenses and other current assets
716
599
Total current assets
6,598
8,099
Investments, non-current
2,143
2,494
Property, plant and equipment, net
2,126
2,196
Right-of-use assets, operating leases
738
759
Other non-current assets
530
594
Total assets
$
12,135
$
14,142
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable
$
267
$
405
Accrued liabilities
1,178
1,427
Deferred revenue
163
153
Other current liabilities
73
221
Total current liabilities
1,681
2,206
Deferred revenue, non-current
157
58
Operating lease liabilities, non-current
660
671
Financing lease liabilities, non-current
26
39
Other non-current liabilities
281
267
Total liabilities
2,805
3,241
Stockholders’ equity:
Additional paid-in capital
1,254
866
Accumulated other comprehensive income (loss)
27
(10
)
Retained earnings
8,049
10,045
Total stockholders’ equity
9,330
10,901
Total liabilities and stockholders’ equity
$
12,135
$
14,142
MODERNA, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited, in millions)
Nine Months Ended September 30,
2025
2024
Operating activities
Net loss
$
(1,996
)
$
(2,441
)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation
370
325
Depreciation and amortization
148
129
Amortization/accretion of investments
(54
)
(76
)
Loss on equity investments, net
5
43
Other non-cash items
50
6
Changes in assets and liabilities:
Accounts receivable, net
(703
)
(672
)
Prepaid expenses and other assets
(84
)
(147
)
Inventory
(213
)
(208
)
Right-of-use assets, operating leases
28
(63
)
Accounts payable
(114
)
(103
)
Accrued liabilities
(196
)
(415
)
Deferred revenue
108
(177
)
Operating lease liabilities
(15
)
33
Other liabilities
(137
)
(63
)
Net cash used in operating activities
(2,803
)
(3,829
)
Investing activities
Purchases of marketable securities
(4,221
)
(4,641
)
Proceeds from maturities of marketable securities
4,634
4,648
Proceeds from sales of marketable securities
1,744
3,010
Purchases of property, plant and equipment
(153
)
(529
)
Purchase of intangible asset
(10
)
–
Net cash provided by investing activities
1,994
2,488
Financing activities
Proceeds from issuance of common stock through equity plans
19
55
Tax payments related to net share settlements on equity awards
(1
)
–
Changes in financing lease liabilities
(6
)
4
Net cash provided by financing activities
12
59
Effect of changes in exchange rates on cash and cash equivalents
2
1
Net decrease in cash, cash equivalents and restricted cash
(795
)
(1,281
)
Cash, cash equivalents and restricted cash, beginning of year
1,929
2,928
Cash, cash equivalents and restricted cash, end of period
$
1,134
$
1,647
Spikevax®, mRESVIA® and mNEXSPIKE® are registered trademarks of Moderna.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding: Moderna’s 2025 financial framework, including its expected revenue range, operating expenses and year-end cash balance; demand for Moderna’s products and Moderna’s ability to drive future sales growth; Moderna’s continued cost discipline; anticipated regulatory filings and potential approvals; and anticipated milestones for Moderna’s pipeline programs, including potential near-term catalysts. In some cases, forward-looking statements can be identified by terminology such as “will,” “may,” “should,” “could,” “expects,” “intends,” “plans,” “aims,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. The forward-looking statements in this press release are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond Moderna’s control and which could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These risks, uncertainties, and other factors include, among others, those risks and uncertainties described under the heading “Risk Factors” in Moderna’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission (SEC), and in subsequent filings made by Moderna with the SEC, which are available on the SEC’s website at www.sec.gov. Except as required by law, Moderna disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this press release in the event of new information, future developments or otherwise. These forward-looking statements are based on Moderna’s current expectations and speak only as of the date of this press release.
###
Moderna Contacts Media: Chris Ridley Head of Global Media Relations +1 617-800-3651 Chris.Ridley@modernatx.com
Investors: Lavina Talukdar Senior Vice President & Head of Investor Relations +1 617-209-5834 Lavina.Talukdar@modernatx.com
CAMBRIDGE, MA / ACCESS Newswire / November 3, 2025 / Moderna, Inc. (NASDAQ:MRNA) today announced that the first patient has been dosed in a Phase 1/2 study of mRNA-2808, the Company’s investigational mRNA-based T-cell engager (TCE) for participants with relapsed or refractory multiple myeloma (RRMM). The first dose was administered at SCRI Oncology Partners in Nashville, Tennessee, in collaboration with Sarah Cannon Research Institute (SCRI).
mRNA-2808 is an investigational, multiplexed therapy that encodes three TCEs that target three validated myeloma-associated antigens. This novel strategy aims to address tumor heterogeneity and overcome known mechanisms of target-mediated resistance.
“This is an important milestone as it is Moderna’s first T-cell engager therapy to be dosed in a patient. Given the vast unmet needs in multiple myeloma, I believe we can help improve the lives of these patients with innovative therapies,” said Dr. Kyle Holen, Head of Development, Oncology at Moderna. “Our mRNA platform uniquely allows for the multiplexing of several T-cell engager targets, designed to attack the disease from multiple angles to overcome, reduce and prevent escape mechanisms. We are proud to launch our first, of what we hope are many, T-cell engager therapies as we continue on our mission to transform cancer care for patients in need.”
“Multiple myeloma is a complex cancer with many patients inevitably developing a resistance to available therapies, and attaining sustained disease control remains a challenge,” said Dr. Hans Lee, Director of Myeloma Research at SCRI and Hematologist and Medical Oncologist at SCRI Oncology Partners. “At SCRI, our mission is to bring tomorrow’s breakthroughs to the patients who need them today. mRNA-based therapies could change the way we think about treating cancers like multiple myeloma, and we are proud to provide our patients with access to this clinical trial.”
This study (NCT07116616) is a dose escalation study evaluating the safety and tolerability of mRNA-2808 in RRMM patients aged 18 years and older. To learn more about eligibility, please click here.
About Moderna
Moderna is a leader in the creation of the field of mRNA medicine. Through the advancement of mRNA technology, Moderna is reimagining how medicines are made and transforming how we treat and prevent disease for everyone. By working at the intersection of science, technology and health for more than a decade, the company has developed medicines at unprecedented speed and efficiency, including pioneering work on COVID-19 vaccines.
Moderna’s mRNA platform has enabled the development of therapeutics and vaccines for infectious diseases, immuno-oncology, rare diseases and autoimmune diseases. With a unique culture and a global team driven by the Moderna values and mindsets to responsibly change the future of human health, Moderna strives to deliver the greatest possible impact to people through mRNA medicines. For more information about Moderna, please visit modernatx.com and connect with us on X (formerly Twitter), Facebook, Instagram, YouTube and LinkedIn.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding: the potential for Moderna’s mRNA platform to help transform cancer care; and the potential of mRNA-2808 to address tumor heterogeneity and overcome known mechanisms of target-mediated resistance. The forward-looking statements in this press release are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond Moderna’s control and which could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These risks, uncertainties, and other factors include, among others, those risks and uncertainties described under the heading “Risk Factors” in Moderna’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and in subsequent filings made by Moderna with the U.S. Securities and Exchange Commission, which are available on the SEC’s website at www.sec.gov. Except as required by law, Moderna disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this press release in the event of new information, future developments or otherwise. These forward-looking statements are based on Moderna’s current expectations and speak only as of the date of this press release.
CAMBRIDGE, MA / ACCESS Newswire / October 23, 2025 / Moderna, Inc. (NASDAQ:MRNA) today announced it was ranked as a top employer in the global biopharmaceutical industry in Science and Science Careers’ 2025 Top Employers Survey for the eleventh consecutive year. Moderna was recognized for its commitment to continuous innovation and a culture that reflects the values of its employees.
“We are honored to be recognized by Science as a top employer, with this year marking the eleventh consecutive year we have been named to this important list,” said Stéphane Bancel, Chief Executive Officer of Moderna. “Our team continues to execute our strategy, advancing our pipeline of mRNA medicines and staying focused on our commitment to patients. I am proud that Moderna remains a company where our team members can build purposeful careers.”
In 2025, Moderna received approval for its third product, mNEXSPIKE®, a new vaccine against COVID-19 for use in all adults 65 and older and individuals aged 12-64 years with at least one or more underlying risk factors. As its product portfolio grows, Moderna has continued to invest in its global network of advanced manufacturing hubs in Australia, Canada and the United Kingdom, which strengthen pandemic readiness by maximizing geographic coverage and minimizing response times. As part of Moderna’s ongoing commitment to social responsibility, the Company also marked the third anniversary of the Moderna Charitable Foundation and issued its fourth annual Impacting Human Health Report.
“At Moderna, we are bringing together people and technology to change what’s possible in medicine,” said Tracey Franklin, Chief People and Digital Technology Officer of Moderna. “Our teams are constantly adapting, learning and applying new tools, like AI and robotics, in ways to drive innovation and create meaningful impact for years to come.”
For more than 20 years, Science has surveyed its readership to identify and celebrate the top 20 pharmaceutical and biotechnology companies with the best reputation as employers. The 2025 survey’s findings are based on approximately 5,500 completed surveys from readers of Science, and other survey invitees. A vast majority of the survey participants came from North America (66%), Europe (20%) and Asia/Pacific Rim (9%). Most (97%) of the respondents worked in biotechnology, biopharmaceutical and pharmaceutical companies.
Moderna is a leader in the creation of the field of mRNA medicine. Through the advancement of mRNA technology, Moderna is reimagining how medicines are made and transforming how we treat and prevent disease for everyone. By working at the intersection of science, technology and health for more than a decade, the company has developed medicines at unprecedented speed and efficiency, including pioneering work on COVID-19 vaccines.
Moderna’s mRNA platform has enabled the development of therapeutics and vaccines for infectious diseases, immuno-oncology, rare diseases and autoimmune diseases. With a unique culture and a global team driven by the Moderna values and mindsets to responsibly change the future of human health, Moderna strives to deliver the greatest possible impact to people through mRNA medicines. For more information about Moderna, please visit modernatx.com and connect with us on X (formerly Twitter), Facebook, Instagram, YouTube and LinkedIn.
CAMBRIDGE, MA / ACCESS Newswire / October 23, 2025 / Moderna, Inc. (Nasdaq:MRNA) today announced that it will host its Investor Event – Analyst Day at 9:00 a.m. ET on Thursday, November 20, 2025.
The event will include presentations from management discussing Moderna’s development and commercial strategy and key business considerations.
A live webcast of the presentation will be available under “Events and Presentations” in the Investors section of the Moderna website
A replay of the webcast will be archived on Moderna’s website for at least 30 days following the presentation.
About Moderna
Moderna is a leader in the creation of the field of mRNA medicine. Through the advancement of mRNA technology, Moderna is reimagining how medicines are made and transforming how we treat and prevent disease for everyone. By working at the intersection of science, technology and health for more than a decade, the company has developed medicines at unprecedented speed and efficiency, including pioneering work on COVID-19 vaccines.
Moderna’s mRNA platform has enabled the development of therapeutics and vaccines for infectious diseases, immuno-oncology, rare diseases and autoimmune diseases. With a unique culture and a global team driven by the Moderna values and mindsets to responsibly change the future of human health, Moderna strives to deliver the greatest possible impact to people through mRNA medicines. For more information about Moderna, please visit modernatx.com and connect with us on X (formerly Twitter), Facebook, Instagram, YouTube and LinkedIn.
Media Contacts
Investors: Lavina Talukdar Senior Vice President & Head of Investor Relations 617-209-5834 Lavina.Talukdar@modernatx.com
