Moderna said it expects 2025 revenue of about $1.9 billion on an unaudited basis, roughly $100 million above the midpoint of the range it discussed on its third-quarter 2025 earnings call, as the company provided business and pipeline updates at the 44th Annual J.P. Morgan Healthcare Conference. Moderna also said it improved its expected 2025 GAAP operating expenses by $200 million versus its prior outlook, and raised its projected year-end 2025 cash balance to about $8.1 billion, including a $0.6 billion draw from its recently announced $1.5 billion term loan facility.

Looking ahead, Moderna reiterated its plan for up to 10% revenue growth in 2026 alongside further GAAP operating expense reductions, with 2026 GAAP operating expenses expected to be about $4.9 billion. The company also pointed to multiple potential 2026 catalysts, including possible first approvals for its seasonal flu vaccine and flu/COVID combination vaccine, and pivotal trial readouts across oncology, rare disease, and infectious disease programs.

Source: Accesswire