Moderna MRNA · USD
Health Care · Biotechnology · US listing · 🇺🇸 United States
S&P 500Nasdaq-100
269.00
+5.83%
Close of 9 Nov 2026, in USD
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About Moderna
From its filings with the US Securities and Exchange Commission
Moderna is based in Cambridge, Massachusetts and is incorporated in Delaware. Its shares trade on Nasdaq under the ticker MRNA. It is a member of the S&P 500 and Nasdaq-100. The SEC classifies its business as biological products, (no diagnostic substances). In the fiscal year to 31 December 2025, it reported revenue of $1.94bn and a net loss of $2.82bn. At that date it held total assets of $12.34bn and shareholders' equity of $8.65bn. By region, United States accounted for 61.7%, followed by Rest of world at 35.6% and Europe at 2.7%.
Moderna is a pioneer and leader in the field of mRNA medicine. Through the advancement of our technology platform, we are reimagining how medicines are made to transform how we treat and prevent diseases. Since our founding, our mRNA platform has enabled the development of vaccine and therapeutic candidates across infectious disease, oncology, rare disease and more.
With a global team and a unique culture, driven by our values and mindsets, our mission is to deliver the greatest possible impact to people through mRNA medicines.
We currently have three commercial products—Spikevax and mNEXSPIKE (our COVID vaccines) and mRESVIA (our vaccine against respiratory syncytial virus (RSV)). mNEXSPIKE, which we launched commercially in the third quarter of 2025, is now our leading product in the U.S. retail channel. In 2025, we achieved total revenue of $1.9 billion, largely from sales of our COVID vaccines.
Beyond our commercial products, we continue to demonstrate the potential of our platform technology and are advancing a pipeline of development candidates across oncology, rare disease and infectious disease. In January 2026, we and Merck announced five-year data from the Phase 2b study of intismeran autogene (mRNA-4157), our mRNA-based individualized neoantigen therapy, in combination with Merck’s pembrolizumab (KEYTRUDA®), which demonstrated sustained improvement in recurrence-free survival in patients with high-risk melanoma (stage III/IV) following complete resection.
Quoted from its 10-K, filed 20 Feb 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Health Care
- Industry
- Biotechnology
- Listed since
- 7 Dec 2018
- Employees
- 4,700
- Website
- modernatx.com ↗
- Head office
- 325 BINNEY STREET, CAMBRIDGE, MA, 02142
- Incorporated in
- DE
- Classification
- Biological Products, (No Diagnostic Substances)
- Filer status
- Large accelerated filer
Leadership
Pay as last reported
- Dr. Noubar AfeyanNon-Executive Independent Chairman of the Board, Co-Founder, since 2010$644,366
- Dr. Stephen HogePresident$9.2m
- Mr. Stephane BancelChief Executive Officer, Director, since 2011$19.9m
- Mr. James MockChief Financial Officer$17.2m
- Mr. Jerh CollinsChief Technical Operations and Quality Officer
- Ms. Tracey FranklinChief People and Digital Technology Officer
- Dr. Rose LoughlinExecutive Vice President - Research
- Ms. Kate CroninChief Brand Officer
- Dr. Jacqueline MillerChief Medical Officer
- Ms. Shannon KlingerCorporate Secretary, Chief Legal Officer$17.4m
- Dr. Sandra HorningIndependent Director$578,378
- Mr. Abbas HussainIndependent Director$609,068
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 60
- Environment
- 53
- Social
- 50
- Governance
- 75
- Direct emissions (scope 1)
- 11,240 t
- Energy emissions (scope 2)
- 11,506 t
- Women in the workforce
- 49%
- Carbon reduction policy
- No
- Human rights policy
- Yes
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Innovative mRNA technology: Moderna is at the forefront of the biotechnology industry with its innovative messenger RNA (mRNA) technology, which has the potential to revolutionize vaccine and drug development.
- Strong financial position: The company has a robust financial position, underscored by solid revenue growth and positive cash flow. This stability allows Moderna to invest in research and development and expand its operations.
- Diverse product pipeline: Moderna has a diverse portfolio of product candidates across various therapeutic areas, including infectious diseases, cardiovascular diseases, and oncology. This diversification helps mitigate risks associated with individual product development.
Weaknesses
- Limited commercialization experience: As a relatively young company, Moderna lacks a significant track record in successfully commercializing products. This could pose challenges in effectively bringing its pipeline candidates to market.
- Dependency on partnerships: Moderna relies on partnerships with other pharmaceutical companies for aspects like manufacturing, distribution, and commercialization. Dependence on external collaborations may impact the company's control over these crucial processes.
- High research and development costs: The development of mRNA-based therapeutics involves significant research and development expenses. The high costs associated with clinical trials and regulatory approvals could strain the company's financial resources.
Opportunities
- Rising demand for mRNA-based therapeutics: The increasing demand for novel and effective treatments in various disease areas presents a significant opportunity for Moderna's mRNA technology. It has the potential to address unmet medical needs and gain substantial market share.
- Expansion into new markets and indications: Moderna can explore new therapeutic areas and expand its product pipeline to target unexplored markets and indications. This allows the company to tap into emerging trends and diversify revenue streams.
- Collaborative partnerships with bigger pharmaceutical companies: The company can leverage strategic partnerships with established pharmaceutical giants to enhance its manufacturing capabilities, accelerate regulatory processes, and expand global reach.
Threats
- Intense competition: The biotechnology industry is highly competitive, with numerous players vying for market share. Moderna faces the risk of competition from larger pharmaceutical companies as well as smaller emerging biotech firms.
- Regulatory challenges: The regulatory landscape for mRNA-based therapeutics is still evolving. Delays in obtaining regulatory approvals or changes in regulations could impact the development and commercialization timelines for Moderna's products.
- Intellectual property risks: Protecting intellectual property related to mRNA technology and the products developed using it poses challenges, as competitors may attempt to challenge patents or develop similar technologies.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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