Analyst Conference Summary

biotechnology

conference date: July 31, 2026 @ 5:00 AM Pacific Time
for quarter ending: June 30, 2026 (second quarter, Q2 2026)

Forward-looking statements

Overview:

Basic data (GAAP):

Revenue was $ million, down % sequentially from $389 million, and up % from $ million year-earlier.

Net income negative was $ billion, down sequentially from negative $1.34 billion, and down from negative $ million year-earlier.

EPS (diluted) was negative $, down sequentially from negative $3.40, and down from negative $ year-earlier.

Guidance:

Conference Highlights:

Stephane Bancel, Moderna's CEO, said "."

Revenue for the quarter was about $ million from the U.S. and $ million international.

In Q2 2026 Moderna entered into a settlement agreement with Arbutus Biopharma Corporation and Genevant Sciences GmbH resolving all litigation worldwide. Thus the $950 million lump sum payment. Further loss could be avoided if Moderna wins an appeal re revenues not included in calculating the first payment.

In Q1 2026 the norovirus vaccine, mRNA-1403, is in Phase 3, fully enrolled, with data expected in 2026.

For seasonal flu, mRNA-1010 regulatory filings are under review in Europe, Canada and Australia with potential approvals are expected to begin in 2026. The U.S. FDA PDUFA goal date for mRNA-1010 is August 5, 2026. Also started the Phase 3 study of mRNA-1018, a pandemic influenza vaccine, in collaboration with the Coalition for Epidemic Preparedness Innovations (CEPI).

For norovius, the Phase 3 trial of mRNA-1403 is fully enrolled, with data likely in 2026.

Cash ended the quarter at $ billion, down sequentially from $ billion. Long-term debt $ million.

Operating expense (GAAP) of $ billon consisted of $ million for cost of sales, $ million for R&D, and $ million for SG&A. Operating loss was $ billion. $ million interest income; $ million other expense. Income tax $ million.

Q&A Selective Summary:

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