Citable filing context
MRNA's research view summarizes recent SEC filing context, starting with management_change from Sep 30, 2026.
| Filed | Item | Context |
|---|---|---|
| Sep 30, 2026 | management_change | Moderna appointed Juan Andres as Chief Operating Officer and announced the retirement of Jerh Collins. |
| Sep 1, 2026 | debt_offering | Moderna completed a private offering of $3.0 billion of 0.00% convertible senior notes due 2032. |
| Jul 31, 2026 | earnings | Moderna reported Q2 2026 revenue of $0.145 billion and a GAAP net loss of $0.8 billion. |
| Jul 31, 2026 | Guidance: capital_expenditures | 0.20 to 0.30 |
| Jul 31, 2026 | Guidance: cost_of_sales | not reported to 1.70 |
| Jul 31, 2026 | Guidance: research_and_development_expenses | not reported to 2.90 |
| Jul 31, 2026 | mda_quarterly | Moderna’s financial position as of June 30, 2026, reflects a transition toward a commercial enterprise with a diverse portfolio, though the company continues to report significant net losses. For the six months ended June 30, 2026, Moderna reported a net loss of $2.1 billion on $534 million in total revenue. While net product sales grew 123% year-over-year to $446 million, driven by international COVID-19 vaccine deliveries, operating expenses remain high, totaling $2.7 billion. A critical development for analysts is the $950 million litigation settlement with Arbutus and Genevant, which was recorded in the first half of 2026 and paid in July 2026. This settlement resolves all worldwide litigation regarding the company’s infectious disease portfolio, including Spikevax, mRESVIA, mNEXSPIKE, and mCOMBRIAX, eliminating future royalty obligations for these products. Moderna’s liquidity remains supported by $6.9 billion in cash, cash equivalents, and investments. The company maintains a $1.5 billion credit facility, with $600 million drawn as of June 30, 2026. Key pipeline risks include the ongoing regulatory review of the mRNA-1010 flu vaccine and the recent failure of the mRNA-1403 norovirus vaccine to meet early success criteria. The company continues to prioritize oncology, specifically the intismeran autogene collaboration with Merck. |
| May 1, 2026 | mda_quarterly | Moderna reported first-quarter 2026 total revenue of $389 million, up from $108 million in the prior year, driven primarily by international COVID vaccine sales through government partnerships. Despite this growth, net loss widened to $1.34 billion, largely due to an $878 million cost of sales charge related to a worldwide litigation settlement with Arbutus and Genevant. This settlement requires a $950 million lump sum payment in the third quarter of 2026, with a potential additional liability of $1.3 billion pending a Federal Circuit Court appeal. The company expanded its commercial portfolio with the European Commission's marketing authorization for mCOMBRIAX, a combination flu and COVID vaccine. Other key assets include mRESVIA (RSV) and the oncology candidate intismeran autogene, developed with Merck, which demonstrated a 49% reduction in recurrence or death in five-year Phase 2b adjuvant melanoma data. Additionally, Moderna partnered with Recordati to advance mRNA-3927 for propionic acidemia. Liquidity remains robust with $7.46 billion in cash and investments, supplemented by a $1.5 billion credit facility. Management is prioritizing cost discipline in R&D and SG&A to mitigate negative operating cash flows as the market transitions toward a competitive, commercially driven environment. |
Source: SEC EDGAR filing text and events; period Sep 30, 2026; filed Sep 30, 2026.
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