MRNA · Moderna, Inc.

149 filings

MRNA SEC Filings

Moderna, Inc. - 149 total filings

Filing record · 2018–202610-K910-Q238-K117

Showing 1–50 of 149 filings

Moderna, Inc. 8-K Report, Executive Changes (Sep 30, 2026)

Moderna, Inc. announced a significant leadership change with the appointment of Juan Andres as its new Chief Operating Officer (COO), effective October 5, 2026. This is a newly created role, indicating a strategic move by Moderna to bolster its operational capabilities as it continues to scale and diversify. Mr. Andres is a familiar face, having previously held key roles at Moderna, including Chief Technical Operations and Quality Officer, where he was instrumental in scaling manufacturing for its COVID-19 vaccine. His return and appointment to this critical operational role suggest a focus on reinforcing production, supply chain, and overall business execution.

Sep 30, 2026 8-K

Moderna, Inc. 8-K Report, Material Agreement (Sep 1, 2026)

Moderna, Inc. has successfully completed a private offering of $3.0 billion in aggregate principal amount of 0.00% Convertible Senior Notes due 2032. This issuance, which included the full exercise of an over-allotment option for an additional $400 million, was conducted under an indenture with U.S. Bank Trust Company, National Association. The Notes are unsecured general obligations of the company, maturing on March 1, 2032, and do not bear regular interest, though special interest may accrue under specific circumstances. Holders can convert these notes into Moderna's common stock under defined conditions, including specific stock price performance thresholds or if the company undergoes certain events. The initial conversion price is set at approximately $210.58 per share, representing a significant premium to the stock price at the time of the offering, which is intended to mitigate potential dilution.

Sep 1, 2026 10-Q

Moderna, Inc. Quarterly Report for Q2 Ended Jun 30, 2026

Moderna, Inc. reported a net loss of $782 million ($1.97 per share) for the three months ended June 30, 2026, and a net loss of $2.1 billion ($5.36 per share) for the six months ended June 30, 2026. This represents an improvement in net loss compared to the same periods in the prior year. Total revenue for the six months increased significantly by 114% to $534 million, driven by a substantial increase in net product sales, which more than doubled to $446 million, largely due to international COVID vaccine sales. Other revenue also saw a strong increase, up 76% to $88 million, reflecting higher stand-ready manufacturing and collaboration revenue. Despite revenue growth, operating expenses saw a significant increase of 24% for the six-month period, primarily due to a $884 million royalty payment related to a litigation settlement with Arbutus and Genevant, which also significantly impacted cost of sales. Research and development expenses decreased by 16% for the six-month period, attributed to the wind-down of certain late-stage programs. The company's liquidity remains robust, with cash, cash equivalents, and investments totaling $6.9 billion as of June 30, 2026, though working capital decreased by 28% primarily due to the litigation settlement accrual. Management anticipates sufficient funding for the next 12 months.

Jul 31, 2026 8-K

Moderna, Inc. 8-K Report, Financial Results (Jul 31, 2026)

Moderna, Inc. has filed an 8-K report on July 31, 2026, to announce its financial results for the second quarter ended June 30, 2026. The primary purpose of this filing is to furnish a press release containing these results, which is incorporated by reference. Investors should note that this information is furnished and not deemed 'filed' for purposes of Section 18 of the Securities Exchange Act, meaning it does not carry the same liabilities. However, it provides timely insights into Moderna's recent financial performance and operational status for the period. While the specific financial figures are detailed in the furnished press release (Exhibit 99.1), the filing itself serves as the official notification of their disclosure. Investors and analysts will need to refer to the press release for details on revenue, earnings, product sales (particularly related to its mRNA platform and any approved vaccines/therapeutics), research and development expenditures, and forward-looking guidance. This report is crucial for assessing the company's trajectory and its ability to execute on its pipeline and commercial strategies.

Jul 31, 2026 8-K

Moderna, Inc. 8-K Report, Executive Changes (Jul 8, 2026)

Moderna, Inc. (MRNA) has announced a significant addition to its Board of Directors with the appointment of Michael McDonnell, effective July 8, 2026. Mr. McDonnell brings over 35 years of extensive financial leadership experience, including recent service as Chief Financial Officer at Biogen Inc. and prior CFO roles at IQVIA Holdings Inc., Intelsat S.A., MCG Capital Corporation, and EchoStar Communications. His appointment to the Board as a Class II director and to the Audit Committee is expected to bolster the company's financial oversight and strategic guidance. This move, announced via a press release furnished with the 8-K filing, signals a continued focus on strengthening corporate governance and leveraging seasoned financial expertise. The filing also notes changes to committee memberships, with David Rubenstein moving from the Audit Committee to the Nominating and Corporate Governance Committee.

Jul 8, 2026 8-K

Moderna, Inc. 8-K Report, Bylaw Amendment (May 11, 2026)

Moderna, Inc. (MRNA) filed an 8-K on May 11, 2026, detailing key governance changes and outcomes from its 2026 Annual Meeting of Stockholders. The Board of Directors adopted a by-law amendment designating federal district courts as the exclusive forum for Securities Act of 1933 claims, aligning with recent Delaware corporate law changes. This aims to streamline litigation and provide a more predictable legal environment for such disputes. Additionally, the filing reports the results of the Annual Meeting held on May 6, 2026. Stockholders overwhelmingly re-elected the Class II directors, approved executive compensation on an advisory basis, and voted for annual advisory votes on executive compensation. The appointment of Ernst & Young LLP as the independent registered public accounting firm for fiscal year 2026 was also ratified with strong support. These outcomes reflect continued shareholder confidence in the company's leadership and financial oversight.

May 11, 2026 8-K

Moderna, Inc. 8-K Report, Financial Results (May 1, 2026)

Moderna, Inc. has filed an 8-K report on May 1, 2026, primarily to announce its first-quarter financial results for the period ending March 31, 2026. The report itself does not contain detailed financial figures but instead incorporates by reference a press release (Exhibit 99.1) which holds the specific financial and operational performance data. Investors should refer to this press release for a comprehensive understanding of the company's performance during the first quarter of 2026. This filing serves as a standard notification of material information release. While the 8-K itself is brief, the accompanying press release is crucial for assessing Moderna's revenue, profitability, product pipeline progress, and any forward-looking guidance provided by management. Investors are advised to carefully review the contents of Exhibit 99.1 for insights into the company's financial health and strategic direction.

May 1, 2026 10-Q

Moderna, Inc. Quarterly Report for Q1 Ended Mar 31, 2026

Moderna, Inc. reported a net loss of $1.34 billion for the first quarter of 2026, compared to a net loss of $971 million in the same period of 2025. This widening loss is significantly influenced by a substantial increase in Cost of Sales, primarily due to an $878 million charge related to the Arbutus and Genevant litigation settlement. Excluding this one-time settlement cost, the company's underlying cost of sales as a percentage of revenue actually decreased, indicating improved operational efficiency. Total revenue saw a significant increase of 260% to $389 million, driven by a 309% surge in net product sales to $352 million, largely attributable to increased COVID vaccine sales internationally. Research and development expenses decreased by 24% due to portfolio prioritization and cost management. The company's cash position decreased by approximately 8% from year-end 2025 to $7.46 billion in cash and investments, with working capital also decreasing. Despite the net loss, Moderna believes its current cash and investment balance, combined with available borrowings, will be sufficient to fund operations for at least the next 12 months.

May 1, 2026 8-K

Moderna, Inc. 8-K Report, Material Agreement (Mar 5, 2026)

Moderna, Inc. has entered into a significant settlement agreement with Arbutus Biopharma Corporation and Genevant Sciences GmbH to resolve all ongoing patent infringement litigation. This agreement, effective March 3, 2026, provides crucial certainty for Moderna's infectious disease product portfolio, including its key vaccines Spikevax® and mRESVIA®, as well as its future pipeline, by eliminating future royalty obligations. The settlement includes an initial noncontingent payment of $950 million to Arbutus/Genevant, due by July 8, 2026. Furthermore, the agreement outlines a potential additional contingent payment of up to $1.3 billion, which is tied to the outcome of Moderna's appeal to the Court of Appeals for the Federal Circuit. This appeal concerns whether Section 1498 of U.S. Code limits Arbutus/Genevant's claims for infringement on vaccine doses sold to the U.S. Government. If Moderna prevails in its appeal on all relevant doses, this contingent payment will not be due. Conversely, a partial win or an unfavorable ruling could result in a prorated contingent payment. The settlement also grants Moderna a fully paid-up, royalty-free, irrevocable license to utilize lipid SM-102-based lipid nanoparticle (LNP) formulations in its infectious disease vaccines.

Mar 5, 2026 10-K

Moderna, Inc. Annual Report, Year Ended Dec 31, 2025

Moderna, Inc. (MRNA) filed its 2025 10-K on February 20, 2026, reporting total revenue of $1.9 billion, a decrease from $3.2 billion in 2024, primarily due to lower COVID vaccine sales. The company incurred a net loss of $2.8 billion in 2025. Despite revenue declines, Moderna has three commercial products: Spikevax and mNEXSPIKE (COVID vaccines) and mRESVIA (RSV vaccine). The company is advancing a robust pipeline, with significant progress in its personalized mRNA cancer therapy, intisomeran autogene (mRNA-4157), in collaboration with Merck, and has regulatory filings under review for seasonal flu and flu+COVID combination vaccines. Moderna is also expanding its manufacturing capabilities globally and continues to invest heavily in its mRNA platform technology. The company faces ongoing risks related to market and regulatory uncertainty, intense competition, commercialization challenges, and clinical development complexities. Financial performance is heavily influenced by COVID vaccine demand, and while significant cost management initiatives are in place, the company anticipates continued investment in its pipeline, particularly in oncology and rare diseases, which may lead to ongoing losses in the near term. Intellectual property litigation remains a key area of focus, with ongoing disputes against competitors like Pfizer and BioNTech.

Feb 20, 2026 8-K

Moderna, Inc. 8-K Report, Financial Results (Feb 13, 2026)

Moderna, Inc. has filed an 8-K report on February 13, 2026, to announce its financial results for the fourth quarter and full year ended December 31, 2025. The report primarily directs investors to a press release furnished as Exhibit 99.1 for the detailed financial performance and operational updates. Investors should refer to this press release for specific figures on revenue, profitability, and any forward-looking statements regarding the company's pipeline and commercial outlook for 2026.

Feb 13, 2026 8-K

Moderna, Inc. 8-K Report, Regulation FD Disclosure (Feb 11, 2026)

Moderna, Inc. (MRNA) announced via an 8-K filing on February 11, 2026, that it received a Refusal-to-File letter from the U.S. Food and Drug Administration (FDA) for its investigational seasonal influenza vaccine, mRNA-1010. This means the FDA will not initiate a review of the Biologics License Application (BLA) for this vaccine candidate at this time. The company furnished a press release dated February 10, 2026, detailing this development, which is included as an exhibit to the filing. This news represents a significant setback for the mRNA-1010 program and could impact Moderna's influenza vaccine pipeline and competitive positioning in the seasonal flu market. Investors should closely monitor any further communication from Moderna regarding the specific reasons for the FDA's decision and the company's plans for addressing these concerns, including potential resubmission strategies or reallocation of resources.

Feb 11, 2026 8-K

Moderna, Inc. 8-K Report, Financial Results (Jan 12, 2026)

Moderna, Inc. (MRNA) filed an 8-K on January 12, 2026, providing preliminary financial updates for the fiscal year ended December 31, 2025, during its presentation at the J.P. Morgan Healthcare Conference. The company anticipates approximately $1.9 billion in revenue for the full year 2025. This revenue figure should be considered in conjunction with expected GAAP operating expenses, which are projected to be in the range of $5.0 billion to $5.2 billion for the same period. Despite the anticipated operating expense levels, Moderna maintains a strong liquidity position, expecting to close the year with approximately $8.1 billion in cash, cash equivalents, and marketable securities as of December 31, 2025. Investors should note that these figures are preliminary and unaudited, and the company's full financial statements for the year are still undergoing audit, which may lead to revisions.

Jan 12, 2026 8-K

Moderna, Inc. 8-K Report, Regulation FD Disclosure (Jan 5, 2026)

Moderna, Inc. has filed an 8-K report on January 5, 2026, primarily disclosing a letter sent to its shareholders. This letter, attached as Exhibit 99.1, is intended to provide an update and is being furnished under Regulation FD, meaning it's not considered 'filed' for liability purposes under Section 18 of the Exchange Act. While the specific content of the shareholder letter is not detailed in the 8-K itself, its issuance suggests the company is proactively communicating significant information to its investors. Investors should look to the attached Exhibit 99.1 for the core details of Moderna's communication. Given the typical nature of such letters, it is likely to cover key business developments, strategic updates, or financial performance commentary. The filing serves as an official record of this communication, ensuring transparency and broad dissemination of information to all shareholders.

Jan 5, 2026 8-K

Moderna, Inc. 8-K Report, Material Agreement (Nov 24, 2025)

Moderna, Inc. (MRNA) has announced a significant financing event through a Credit and Guaranty Agreement executed on November 19, 2025, detailed in an 8-K filing dated November 24, 2025. The company has secured a $1.5 billion credit facility, comprising a $600 million initial term loan and $900 million in delayed draw term loans. This facility provides substantial financial flexibility, with a portion of the delayed draw loans contingent upon achieving key regulatory milestones for its late-stage clinical pipeline, underscoring the importance of its drug development progress. The credit facility matures in November 2030 and is guaranteed by several of Moderna's international subsidiaries, secured by an all-asset collateral grant. Key financial covenants include a minimum liquidity requirement, which can be eased if the company's market capitalization exceeds $5 billion, and is subject to an equity cure provision. This financing is crucial for supporting Moderna's ongoing research and development efforts and advancing its pipeline towards commercialization.

Nov 24, 2025 8-K

Moderna, Inc. 8-K Report, Regulation FD Disclosure (Nov 20, 2025)

Moderna, Inc. (MRNA) has filed an 8-K report on November 20, 2025, primarily to furnish a press release detailing pipeline progress and business strategy updates presented at their Analyst Day. This filing serves to inform investors about the company's forward-looking initiatives and advancements within its drug development programs. While not deemed "filed" for regulatory liability purposes, the content provides significant insight into Moderna's strategic direction and operational achievements.

Nov 20, 2025 8-K

Moderna, Inc. 8-K Report, Shareholder Vote Results (Nov 13, 2025)

Moderna, Inc. (MRNA) filed an 8-K on November 13, 2025, reporting the results of its Special Meeting of Shareholders held on November 12, 2025. The primary focus of the meeting was a shareholder vote on a one-time stock option exchange program for its non-Executive Committee employees. This proposal was overwhelmingly approved by stockholders, indicating strong support for management's proposed equity incentive adjustments. Additionally, shareholders approved a proposal to adjourn the meeting if necessary. This adjournment provision grants the company flexibility to continue soliciting votes for the option exchange program, especially if initial voting results were borderline or to ensure maximum participation. The filing confirms a quorum was present and details the voting results for both proposals, with no broker non-votes recorded.

Nov 13, 2025 10-Q

Moderna, Inc. Quarterly Report for Q3 Ended Sep 30, 2025

Moderna, Inc. reported a net loss of $200 million ($0.51 per share) for the third quarter of 2025, a significant shift from the $13 million net income ($0.03 per share) recorded in the same period of 2024. This widened loss is primarily driven by a substantial decline in net product sales, which fell by 47% to $973 million in the third quarter, largely attributable to lower COVID-19 vaccine sales in the U.S. and internationally. Despite the decrease in product sales, research and development expenses saw a notable reduction of 30% year-over-year, reflecting disciplined cost management and portfolio prioritization. The company continues to advance its pipeline with developments in various franchises, including positive data for its seasonal flu and COVID-19 combination vaccines and ongoing trials for oncology and rare disease therapeutics, while also discontinuing its congenital CMV vaccine program after it failed to meet its primary efficacy endpoint. The company's balance sheet shows a decrease in cash and cash equivalents and investments, reflecting an operating cash outflow of $2.8 billion for the first nine months of 2025. Moderna maintains a strong financial position with $6.6 billion in cash, cash equivalents, and investments as of September 30, 2025, and believes its current resources are sufficient to fund operations for at least the next 12 months. The company is navigating a challenging market environment for COVID-19 vaccines as it transitions towards a more seasonal and commercially competitive landscape, anticipating further sales declines for the full year 2025 compared to 2024.

Nov 6, 2025 8-K

Moderna, Inc. 8-K Report, Financial Results (Nov 6, 2025)

Moderna, Inc. (MRNA) filed an 8-K on November 6, 2025, to report its third-quarter financial results for the period ended September 30, 2025. The filing primarily serves as a notification of the press release containing these results, which is furnished as Exhibit 99.1. Investors should refer to this press release for detailed financial performance, operational updates, and forward-looking statements related to the company's mRNA pipeline and commercial products. While the 8-K itself is procedural, it signals the release of crucial information regarding Moderna's revenue, earnings, cash position, and progress on key development programs. The furnished press release is the primary source for understanding the company's performance during the third quarter and its outlook for the remainder of the fiscal year. Investors are encouraged to review Exhibit 99.1 for comprehensive insights into Moderna's business operations and financial health.

Nov 6, 2025 10-Q

Moderna, Inc. Quarterly Report for Q2 Ended Jun 30, 2025

Moderna, Inc. reported a net loss of $825 million ($2.13 per share) for the second quarter of 2025, a significant improvement from the $1.279 billion ($3.33 per share) net loss in the same period last year. Total revenue for the quarter was $142 million, down 41% year-over-year, primarily driven by a 38% decrease in net product sales to $114 million. This decline in product sales is attributed to lower COVID-19 vaccination rates and reduced average selling prices, particularly in the U.S. market. Despite the revenue challenges, the company continues to invest heavily in its R&D pipeline, with expenses decreasing by 43% year-over-year to $700 million, reflecting strategic prioritization and operational efficiencies. The company's balance sheet remains robust, with $1.279 billion in cash and cash equivalents and substantial investments totaling $6.2 billion. Moderna has also seen progress with new product approvals, including its next-generation COVID vaccine, mNEXSPIKE, and expanded indications for its RSV vaccine, mRESVIA, positioning it for potential future growth as the COVID-19 market transitions to a seasonal offering.

Aug 1, 2025 8-K

Moderna, Inc. 8-K Report, Financial Results (Aug 1, 2025)

Moderna, Inc. (MRNA) has filed an 8-K report on August 1, 2025, to announce its financial results for the second quarter ended June 30, 2025. The primary driver of this filing is the accompanying press release, furnished as Exhibit 99.1, which details the company's performance during the quarter. Investors should note that this information is furnished and not deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, meaning it does not carry the same level of regulatory liability as a fully filed document, though it is still critical for understanding the company's operational and financial standing. While the 8-K itself is brief, the press release (Exhibit 99.1) is expected to contain key financial metrics such as revenue, earnings per share, and cash flow, along with qualitative commentary on business developments, pipeline progress, and future outlook. Investors are encouraged to review the press release for specific details regarding sales of existing products, advancements in clinical trials for new therapies, and any strategic partnerships or collaborations. The filing also includes the cover page interactive data file in XBRL format for enhanced data analysis.

Aug 1, 2025 8-K

Moderna, Inc. 8-K Report, Shareholder Vote Results (May 5, 2025)

Moderna, Inc. (MRNA) has filed an 8-K report detailing the results of its 2025 Annual Meeting of Stockholders held on April 30, 2025. The meeting saw strong support for the election of directors, with all nominated individuals securing a substantial majority of votes. This indicates continued confidence from shareholders in the current leadership and the board's strategic direction. Furthermore, stockholders approved, on an advisory basis, the compensation of the company's named executive officers, demonstrating general agreement with executive pay practices. The appointment of Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025, was also overwhelmingly ratified. These outcomes suggest a stable governance environment and shareholder alignment on key corporate governance matters.

May 5, 2025 10-Q

Moderna, Inc. Quarterly Report for Q1 Ended Mar 31, 2025

Moderna, Inc. reported a net loss of $971 million for the first quarter of 2025, an improvement from the $1.175 billion net loss in the same period of 2024. Total revenue declined by 35% to $108 million, primarily driven by a 49% decrease in net product sales to $86 million, largely due to lower COVID-19 vaccine sales in the U.S. and increased competition. However, other revenue saw a significant increase of 100% to $22 million, boosted by licensing and royalty income. Operating expenses decreased by 19% to $1.158 billion, with notable reductions in Research & Development (R&D) expenses (down 19%) and Selling, General & Administrative (SG&A) expenses (down 23%), reflecting cost management initiatives and strategic prioritization of the pipeline. The company ended the quarter with a solid liquidity position, holding $1.623 billion in cash and cash equivalents and $4.352 billion in current investments, although total assets and stockholders' equity decreased from the previous quarter. Moderna is actively managing its pipeline, pausing some programs while advancing others, and anticipates continued investment and potential negative operating cash flows in the near term.

May 1, 2025 8-K

Moderna, Inc. 8-K Report, Financial Results (May 1, 2025)

Moderna, Inc. (MRNA) filed an 8-K on May 1, 2025, to report its financial results for the first quarter ended March 31, 2025. The filing primarily consists of a press release announcing these results, which is furnished as Exhibit 99.1. Investors should refer to this press release for detailed financial performance, operational updates, and forward-looking statements. While the 8-K itself does not contain the specific financial figures, it serves as the official notification of their release. The furnished press release will contain crucial information regarding revenue, earnings per share, product sales (likely including COVID-19 vaccine performance and any contributions from newer pipelines), research and development expenses, and management's outlook for the remainder of the fiscal year. Investors are advised to review Exhibit 99.1 for a comprehensive understanding of Moderna's Q1 2025 performance and its implications for future growth.

May 1, 2025 10-K

Moderna, Inc. Annual Report, Year Ended Dec 31, 2024

Moderna, Inc.'s 2024 10-K filing reveals a significant transition as the company moves from a pandemic-driven revenue model to a more diversified, seasonal commercial approach. While net product sales declined to $3.1 billion in 2024 from $6.7 billion in 2023, primarily due to decreased COVID vaccine demand, the company secured regulatory approval for its second commercial product, mRESVIA (RSV vaccine) for older adults. This diversification is crucial as the COVID vaccine market normalizes and faces increased competition. The company continues to invest heavily in research and development, with 44 programs in its pipeline, 11 of which are in late-stage development. Key advancements include positive Phase 3 data for its next-generation COVID vaccine (mRNA-1283), RSV vaccine for high-risk adults (mRNA-1345), and a flu+COVID combination vaccine (mRNA-1083). The individualized neoantigen therapy (INT) for melanoma, developed with Merck, is also progressing with Phase 3 enrollment completed. Financially, Moderna reported a net loss of $3.6 billion for 2024, a notable improvement from the $4.7 billion loss in 2023, but still reflecting substantial R&D investments and the strategic resizing of its COVID vaccine operations. The company maintains a strong liquidity position with $9.5 billion in cash, cash equivalents, and investments as of December 31, 2024, providing runway for ongoing development and strategic initiatives. Key risks highlighted include evolving market dynamics for respiratory vaccines, intense competition, and the inherent uncertainties in drug development and regulatory approvals.

Feb 21, 2025 8-K

Moderna, Inc. 8-K Report, Financial Results (Feb 14, 2025)

Moderna, Inc. (MRNA) has filed an 8-K report on February 14, 2025, primarily furnishing its fourth quarter and full-year financial results for the period ending December 31, 2024, through a press release. While the filing itself is procedural, the accompanying press release (Exhibit 99.1) contains the core financial and operational data crucial for investor assessment. Investors should carefully review this press release for detailed performance metrics, revenue generation, profitability, and any forward-looking guidance provided by the company. The filing serves as the official notification of the release of these results. It's important for investors to note the "furnished" nature of the information, meaning it is not subject to the same liabilities under Section 18 of the Exchange Act as "filed" information, though it can be incorporated by reference into other filings. The key takeaway for investors is to access and analyze the detailed financial information presented in the press release to understand Moderna's performance and outlook.

Feb 14, 2025 8-K

Moderna, Inc. 8-K Report, Financial Results (Jan 13, 2025)

Moderna, Inc. (MRNA) filed an 8-K on January 13, 2025, providing preliminary financial insights for the fiscal year ended December 31, 2024. The company announced unaudited product sales in the range of $3.0 billion to $3.1 billion. This indicates a significant revenue stream, though it's crucial to note these figures are preliminary and subject to audit. Furthermore, Moderna anticipates a strong cash position, reporting unaudited cash, cash equivalents, and marketable securities of approximately $9.5 billion as of December 31, 2024. This robust liquidity provides financial flexibility for ongoing research, development, and potential strategic initiatives. Investors should monitor the upcoming audited financial statements for a complete and confirmed picture of the company's performance and financial health.

Jan 13, 2025 10-Q

Moderna, Inc. Quarterly Report for Q3 Ended Sep 30, 2024

Moderna, Inc. reported financial results for the third quarter and first nine months of 2024, demonstrating a shift from pandemic-driven COVID-19 vaccine sales to a more seasonal commercial market. While total revenue saw a significant decrease year-over-year for the nine-month period primarily due to lower COVID-19 vaccine sales, the third quarter revenue remained stable. The company achieved profitability in the third quarter of 2024 with a net income of $13 million, a substantial improvement from the $3.6 billion net loss in the prior year quarter. This turnaround is largely attributed to a significant reduction in the cost of sales, driven by lower inventory write-downs and optimized manufacturing capacity. Key developments include the launch and sales of its new RSV vaccine, mRESVIA®, in the U.S. and Europe, and the rollout of updated COVID-19 vaccines targeting new strains for the 2024-2025 season. Despite the ongoing transition in the COVID-19 vaccine market, Moderna maintains a strong cash position and is advancing a diverse pipeline of 45 development programs across various therapeutic areas, including oncology and other infectious diseases. The company faces ongoing legal challenges related to intellectual property for its COVID-19 and RSV vaccines, which are being actively defended.

Nov 7, 2024 8-K

Moderna, Inc. 8-K Report, Financial Results (Nov 7, 2024)

Moderna, Inc. (MRNA) has filed an 8-K report on November 7, 2024, to announce its third quarter 2024 financial results. The primary driver of this filing is the accompanying press release, which contains the detailed financial performance for the period ending September 30, 2024. Investors should refer to the furnished press release (Exhibit 99.1) for specific figures related to revenue, earnings, and other key financial metrics. This report does not involve material events beyond the standard quarterly earnings announcement, but it serves as the official notification and public dissemination of the company's recent financial standing.

Nov 7, 2024 8-K

Moderna, Inc. 8-K Report, Executive Changes (Oct 2, 2024)

Moderna, Inc. (MRNA) announced a change to its Board of Directors through an 8-K filing on October 2, 2024. The key development is the appointment of Abbas Hussain as a new director, effective October 2, 2024. Mr. Hussain brings significant experience in the healthcare sector, having previously served as CEO of Vifor Pharma and holding various leadership roles at GlaxoSmithKline and Eli Lilly and Company. His appointment increases the Board size to nine directors, and he will serve as a Class II director until the 2026 annual meeting. Furthermore, Mr. Hussain has been appointed to the Board's Audit Committee. This addition to the Board signifies a strengthening of Moderna's governance and oversight, particularly within its audit functions, by leveraging Mr. Hussain's extensive industry leadership and operational background. Investors should note that his compensation will align with the company's established non-employee director compensation policy, and he has entered into standard indemnification agreements. There are no disclosed related-party transactions or disqualifying arrangements associated with his appointment.

Oct 2, 2024 8-K

Moderna, Inc. 8-K Report, Regulation FD Disclosure (Sep 12, 2024)

Moderna, Inc. (MRNA) filed an 8-K on September 12, 2024, primarily to furnish a press release regarding its research and development (R&D) and business updates. This press release was issued in conjunction with an investor event held on the same date. While the 8-K itself contains minimal new information, it serves to disseminate key updates from the investor event to the public, which is crucial for transparency and informing investors about the company's progress and strategic direction. Investors should refer to the furnished press release (Exhibit 99.1) for the substantive details of these updates.

Sep 12, 2024 10-Q

Moderna, Inc. Quarterly Report for Q2 Ended Jun 30, 2024

Moderna, Inc. reported its second-quarter 2024 financial results, indicating a significant decline in net product sales compared to the prior year, primarily driven by the evolving COVID-19 vaccine market transitioning to a seasonal commercial pattern. Total revenue for the quarter was $241 million, down 30% year-over-year, with net product sales at $184 million. The company experienced a net loss of $1.28 billion ($3.33 per share) for the quarter, a slight improvement from the $1.38 billion loss ($3.62 per share) in the same period last year. Operating expenses decreased by 27% to $1.60 billion, largely due to a substantial reduction in cost of sales. Research and development expenses saw a modest increase, while selling, general, and administrative expenses decreased. Key developments include the FDA approval of their RSV vaccine, mRESVIA (mRNA-1345), in May 2024, marking their second commercial product. The company also advanced its pipeline with positive Phase 3 data for its next-generation COVID-19 vaccine candidate (mRNA-1283) and a combination influenza/COVID-19 vaccine candidate (mRNA-1083). Despite the revenue decline from COVID-19 vaccines, Moderna maintains a strong cash position and believes it has sufficient resources to fund operations for at least the next 12 months, though future operational cash flows are expected to remain negative due to continued investment in its pipeline.

Aug 1, 2024 8-K

Moderna, Inc. 8-K Report, Financial Results (Aug 1, 2024)

Moderna, Inc. (MRNA) announced its second quarter financial results for the period ended June 30, 2024, via a press release filed on August 1, 2024. This 8-K filing primarily serves to furnish this press release, which contains the company's operational and financial performance for the quarter. Investors should refer to the furnished press release (Exhibit 99.1) for the detailed financial results, including revenue, profitability, and any forward-looking statements or guidance.

Aug 1, 2024 8-K

Moderna, Inc. 8-K Report, Executive Changes (Jul 23, 2024)

Moderna, Inc. has announced significant changes to its Board of Directors, effective August 5, 2024. Long-standing board members Robert Langer and Stephen Berenson will resign from their positions but will transition to consulting roles. This move will allow their outstanding equity awards to continue vesting. Concurrently, the company has appointed David M. Rubenstein, Co-Founder and Co-Chairman of The Carlyle Group, to the Board. Mr. Rubenstein will fill the vacancy left by Mr. Berenson on the Audit Committee and will serve as a Class III director. These changes will result in the Board size being fixed at eight directors.

Jul 23, 2024 8-K

Moderna, Inc. 8-K Report, Bylaw Amendment (May 9, 2024)

Moderna, Inc. (MRNA) filed an 8-K on May 9, 2024, reporting on key outcomes from its 2024 Annual Meeting of Stockholders held on May 6, 2024. The most significant investor-focused development is the stockholder approval of two amendments to the Company's Certificate of Incorporation. The first amendment grants shareholders holding no less than 20% of outstanding shares the right to call a special meeting, a move that enhances shareholder engagement and potential for activism. The second amendment allows for the exculpation of executive officers under new Delaware law provisions, which can be seen as a measure to protect leadership from certain liabilities. The filing also confirms the election of directors, the advisory approval of executive compensation, and the ratification of the independent registered public accounting firm, Ernst & Young LLP. All proposed amendments and routine matters were approved by stockholders, and these changes have become effective upon filing with the Secretary of State of the State of Delaware on May 8, 2024. The Board also approved a corresponding amendment to the Company's By-laws to support the special meeting provision.

May 9, 2024 8-K

Moderna, Inc. 8-K Report, Financial Results (May 2, 2024)

Moderna, Inc. filed an 8-K on May 2, 2024, primarily to announce its first-quarter 2024 financial results. The filing incorporates by reference a press release detailing these results, providing investors with an update on the company's financial performance. Key information regarding revenue, expenses, and profitability for the quarter ended March 31, 2024, is available through the furnished press release. While the 8-K itself is a procedural filing, the accompanying press release contains the substantive financial data. Investors should refer to Exhibit 99.1 for specific figures and commentary on Moderna's operational and financial condition during the first quarter. This includes any updates on product sales, research and development activities, and overall financial health as presented by the company.

May 2, 2024 10-Q

Moderna, Inc. Quarterly Report for Q1 Ended Mar 31, 2024

Moderna, Inc. reported a significant decline in revenue for the first quarter of 2024 compared to the same period in the prior year, primarily driven by a substantial decrease in net product sales of its COVID-19 vaccine. This revenue drop reflects the market's transition to a seasonal commercial pattern for COVID-19 vaccines, with lower demand expected in the first half of the year. Despite the revenue challenges, the company continues to prioritize research and development, with a robust pipeline of 40 development candidates across various therapeutic areas. Financially, Moderna reported a net loss of $1.175 billion for the quarter, a significant increase from the prior year's net income. This loss was impacted by continued high R&D expenses and the shift in revenue dynamics. The company's liquidity remains strong, with a substantial amount of cash, cash equivalents, and investments, which management believes are sufficient to fund operations for at least the next 12 months. Strategic partnerships, such as the one with Blackstone for its flu program, and out-licensing agreements are being utilized to support pipeline advancement and revenue diversification.

May 2, 2024 10-K

Moderna, Inc. Annual Report, Year Ended Dec 31, 2023

Moderna, Inc.'s 2023 Form 10-K highlights a significant transition from pandemic-driven COVID-19 vaccine sales to an endemic, seasonal commercial market. This shift led to a substantial decrease in net product sales to $6.7 billion in 2023, down from $18.4 billion in 2022. The company has taken steps to resize its manufacturing infrastructure and manage costs associated with this transition, incurring significant charges related to inventory write-downs and CMO wind-downs. Despite the revenue decline, Moderna continues to invest heavily in its robust mRNA platform and diverse pipeline, with 45 programs in development, nine of which are in late-stage. Key near-term catalysts include the anticipated 2024 launch of its RSV vaccine, ongoing Phase 3 trials for its combination flu/COVID-19 vaccine, and progress in its personalized cancer therapy (INT) program with Merck. The company's financial results reflect this evolving landscape, with a reported net loss of $4.7 billion for 2023, contrasting with a net income of $8.4 billion in 2022. This loss is attributed to lower COVID-19 vaccine sales and continued substantial investments in research and development. Moderna ended 2023 with a strong cash position of $13.3 billion, providing a cushion for ongoing pipeline development and operations, though future profitability remains contingent on successful product launches and market adoption beyond its COVID-19 franchise. Significant risks highlighted include the competitive pharmaceutical market, potential delays in clinical development and regulatory approvals, and manufacturing complexities of mRNA technologies.

Feb 23, 2024 8-K

Moderna, Inc. 8-K Report, Financial Results (Feb 22, 2024)

Moderna, Inc. (MRNA) has filed an 8-K report on February 22, 2024, primarily to furnish its fourth quarter and full-year 2023 financial results as announced via press release. The key takeaway for investors is that the company has provided an update on its financial performance, although the detailed financial figures are contained within the furnished press release (Exhibit 99.1) and not directly enumerated within the 8-K's text itself. Investors should refer to the press release for specific revenue, profit, and cash flow details for the periods ending December 31, 2023. This filing serves as the official record of the press release's dissemination, assuring investors that the information presented by Moderna regarding its financial condition and operational results has been formally communicated. While the 8-K itself is a brief document, it directs stakeholders to the comprehensive unaudited financial results and management's discussion and analysis provided in the press release, which is crucial for evaluating Moderna's current financial health and future prospects.

Feb 22, 2024 8-K

Moderna, Inc. 8-K Report, Financial Results (Jan 8, 2024)

Moderna, Inc. (MRNA) filed an 8-K on January 8, 2024, providing preliminary, unaudited financial updates for the fiscal year ended December 31, 2023, during its presentation at the J.P. Morgan Healthcare Conference. The company announced approximately $6.7 billion in product sales for the full year, primarily driven by its COVID-19 vaccine. This figure includes an estimated $0.6 billion in deferred revenue related to its GAVI collaboration. Furthermore, Moderna indicated a strong liquidity position, with cash, cash equivalents, and marketable securities expected to exceed $13 billion as of December 31, 2023. Investors should note that this information is preliminary and subject to audit, and the full audited financial statements may present changes. The filing serves as an early outlook on the company's performance and financial health heading into the new fiscal year.

Jan 8, 2024 8-K

Moderna, Inc. 8-K Report, Executive Changes (Dec 12, 2023)

Moderna, Inc. announced a significant change in its executive leadership with the departure of its Chief Commercial Officer, Arpa Garay, effective December 8, 2023. This departure follows a restructuring of the company's commercial organization, which will now be directly overseen by CEO Stéphane Bancel and President Stephen Hoge. Ms. Garay will remain with Moderna in an advisory capacity through June 2024 to ensure a smooth transition. Investors should note the financial implications of Ms. Garay's departure. She is eligible for severance benefits under the company's Executive Severance Plan, including twelve months of salary ($850,000), a target bonus for the year of departure ($765,000), and 12 months of COBRA coverage. Additionally, 15% of her unvested time-based equity awards will accelerate, and she will have an extended period to exercise vested stock options. Ms. Garay will not be eligible for new equity awards or a 2024 bonus beyond the severance package.

Dec 12, 2023 8-K

Moderna, Inc. 8-K Report, Regulation FD Disclosure (Nov 6, 2023)

Moderna, Inc. (MRNA) filed an 8-K on November 6, 2023, primarily to disclose the cancellation of a pre-arranged trading plan by its Chief Commercial Officer, Arpa Garay. This plan, known as the Garay 10b5-1 Plan, was established on August 24, 2023, with the intent to comply with Rule 10b5-1(c) for planned future stock sales. The cancellation occurred on November 6, 2023, subsequent to the company's Q3 2023 earnings release. Importantly, no shares were actually sold, and no options were exercised under this plan before its termination. The sales were scheduled to commence no earlier than November 27, 2023. This disclosure is important for investors to understand executive trading activities and the absence of any actual stock sales under the specific plan that was cancelled. The filing also includes standard Regulation FD disclosure language.

Nov 6, 2023 10-Q

Moderna, Inc. Quarterly Report for Q3 Ended Sep 30, 2023

Moderna, Inc. reported a significant financial shift in the third quarter of 2023, moving from a period of strong profitability driven by COVID-19 vaccine sales to a net loss. Total revenue for the three months ended September 30, 2023, was $1.83 billion, a decrease of 46% compared to the prior year, primarily due to a 44% decline in net product sales from COVID-19 vaccines. This decline reflects the market's transition from pandemic conditions to an endemic, seasonal market. The company incurred a net loss of $3.63 billion for the quarter, a substantial change from the $1.04 billion net income in the same period last year. This loss was largely driven by a strategic initiative to optimize its COVID-19 business cost structure, resulting in $1.4 billion in charges, including inventory write-downs and contract manufacturing organization (CMO) wind-down costs. Research and development expenses also increased by 41% year-over-year as Moderna continues to invest in its diverse pipeline. Despite the quarterly loss, Moderna maintains a strong liquidity position with $2.93 billion in cash and cash equivalents and $4.64 billion in current investments as of September 30, 2023. The company is actively managing its transition away from pandemic-level COVID-19 vaccine sales by investing in its broader pipeline, including potential vaccines for RSV, influenza, CMV, and advancing its personalized cancer vaccine program. The substantial increase in R&D spending highlights the company's commitment to long-term growth beyond its initial COVID-19 vaccine success.

Nov 3, 2023 8-K

Moderna, Inc. 8-K Report, Financial Results (Nov 2, 2023)

Moderna, Inc. (MRNA) filed an 8-K on November 2, 2023, primarily to report its financial results for the third quarter ended September 30, 2023. The company announced its Q3 2023 financial performance via a press release, which is furnished as an exhibit to this filing. Investors should note that this information is furnished and not deemed 'filed' for purposes of Section 18 of the Exchange Act, meaning it doesn't carry the same legal liabilities. The key takeaway for investors from this filing is the need to review the accompanying press release for detailed financial performance, revenue figures, profitability, and any forward-looking guidance provided by the company.

Nov 2, 2023 8-K

Moderna, Inc. 8-K Report, Regulation FD Disclosure (Oct 16, 2023)

Moderna, Inc. (MRNA) issued a statement on October 16, 2023, to reaffirm its previously provided revenue guidance for its COVID-19 vaccine for the full year 2023, which ranges from $6 billion to $8 billion. The company acknowledges the inherent uncertainty in projecting U.S. vaccination rates and stated that performance would fall in the lower half of the range if approximately 50 million doses are administered, and the upper half if approximately 100 million doses are administered. Moderna indicated that it is too early to definitively forecast the market size and expects to have better visibility into U.S. vaccination trends after observing data through October 2023. Investors can expect a further update on this matter during Moderna's earnings call scheduled for November 2, 2023. The company reiterated its forward-looking statements and cautioned that actual results could differ due to various risks and uncertainties.

Oct 16, 2023 8-K

Moderna, Inc. 8-K Report, Regulation FD Disclosure (Sep 11, 2023)

Moderna, Inc. (MRNA) announced a significant strategic collaboration with Immatics N.V. on September 11, 2023, aimed at developing novel therapies for cancer patients with high unmet medical needs. This partnership leverages Moderna's mRNA platform with Immatics' expertise in T cell receptor (TCR) T cell therapies, signaling a strong commitment to advancing oncology treatments. Investors should view this as a strategic move to diversify Moderna's pipeline and tap into the promising field of immuno-oncology, potentially opening new revenue streams and enhancing long-term growth prospects.

Sep 11, 2023 10-Q

Moderna, Inc. Quarterly Report for Q2 Ended Jun 30, 2023

Moderna, Inc. reported a significant decline in revenue for the three and six months ended June 30, 2023, primarily driven by a steep drop in COVID-19 vaccine product sales. Total revenue fell by 93% and 80% year-over-year for the respective periods. This revenue contraction led to a substantial net loss of $1.38 billion for the quarter and $1.30 billion for the six months, a stark contrast to the profits reported in the prior year. The company is actively managing its transition from a pandemic-driven market to a more endemic and seasonal one for its COVID-19 vaccine, which is impacting sales and leading to increased inventory write-downs and unutilized manufacturing capacity costs. Despite the revenue challenges, Moderna is making strategic investments in its pipeline. Research and development expenses increased by 62% and 80% for the respective periods, reflecting progress in key programs like RSV, influenza, and CMV vaccines, as well as advancements in its individualized neoantigen therapy. The company also reported significant cash reserves and a strong balance sheet, with $3.8 billion in cash and cash equivalents and substantial investments, providing a buffer for continued R&D and operational needs. The company expects its cash position to be sufficient for at least the next 12 months, though it acknowledges the potential for future operating cash flow fluctuations.

Aug 3, 2023 8-K

Moderna, Inc. 8-K Report, Financial Results (Aug 3, 2023)

Moderna, Inc. (MRNA) announced its financial results for the second quarter ended June 30, 2023, via a press release furnished on August 3, 2023. The report primarily serves to disclose these quarterly results. Investors should note that the information provided is furnished and not deemed 'filed' under the Securities Exchange Act, meaning it does not carry the same regulatory implications as a fully filed report but is crucial for understanding the company's recent performance. The key takeaway for investors is the release of Q2 2023 financial performance data. While the 8-K itself is a procedural filing to attach the press release, the press release (Exhibit 99.1) contains the operational and financial details that investors will scrutinize. This includes revenue, expenses, profitability, and any forward-looking statements or strategic updates provided by the company regarding its pipeline and business outlook.

Aug 3, 2023 8-K

Moderna, Inc. 8-K Report, Shareholder Vote Results (May 5, 2023)

Moderna, Inc. (MRNA) filed an 8-K on May 5, 2023, detailing the results of its 2023 Annual Meeting of Stockholders held on May 3, 2023. The filing confirms the election of three Class II directors: Stephen Berenson, Sandra Horning, M.D., and Paul Sagan, all for three-year terms. Additionally, stockholders approved, on a non-binding advisory basis, the compensation of the company's named executive officers and ratified the appointment of Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2023. The meeting also saw a shareholder proposal requesting a report on the feasibility of transferring intellectual property. This proposal was not approved by the majority of the votes cast. Overall, the results indicate strong support for the company's board of directors, executive compensation practices, and auditor selection, while a shareholder-initiated proposal did not gain majority approval.

May 5, 2023 10-Q

Moderna, Inc. Quarterly Report for Q1 Ended Mar 31, 2023

Moderna, Inc. reported a significant decrease in revenue for the first quarter of 2023 compared to the prior year, driven primarily by a substantial decline in COVID-19 vaccine sales. Total revenue fell by 69% to $1.86 billion, with product sales contributing $1.83 billion. This sharp drop reflects the ongoing shift of the COVID-19 market towards an endemic, seasonal model. Despite the revenue decline, the company maintained a strong balance sheet with substantial cash, cash equivalents, and investments totaling over $16 billion. However, operating activities resulted in a net cash used of $1.23 billion, largely due to decreases in deferred revenue and accrued liabilities, offset by significant investments in research and development. The company also continued its share repurchase program, spending $526 million in the quarter. Moderna's strategic focus appears to be on diversifying its pipeline beyond COVID-19, with substantial investments in R&D for vaccines and therapeutics across various disease areas, including RSV, influenza, CMV, and cancer.

May 4, 2023