Moderna Reports Q2 Earnings with Revenue Above Guidance and Narrowed Net Loss
Moderna reported second-quarter revenue of $145 million, exceeding its previous guidance. The company's net loss narrowed to $782 million compared to a year-over-year loss of $825 million. Moderna reduced operating costs significantly across multiple expense categories and lowered its cost forecasts for 2026. The firm ended the quarter with cash and investments totaling $6.9 billion, down from $7.5 billion in Q1 due to funding operations and pipeline development. It expects this balance to fall further to between $4.7 billion and $5.2 billion by year-end. Moderna reiterated its 2026 revenue growth target of up to 10%, driven primarily by respiratory vaccines, including a strong performance from the flu vaccine with FDA advisory-panel support. The company also made progress in oncology and rare-disease programs, such as fully enrolling phase III trials for intismeran autogene (melanoma) and propionic acidemia. However, its norovirus vaccine study did not meet interim success criteria.
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Topics: financial performance pharmaceuticals pipeline development vaccines