Moderna, Inc. (MRNA)

Moderna is a pioneer in mRNA medicine. It uses its mRNA technology platform to develop vaccines and therapeutics for infectious disease, oncology, rare disease and other areas. mRNA carries the instructions that cells use to make proteins, and Moderna describes it as the "software of life." The company says its mission is to deliver the greatest possible impact to people through mRNA medicines. In 2025 it reported total revenue of $1.9 billion, largely from sales of its COVID vaccines.

Moderna has three commercial products: Spikevax and mNEXSPIKE (COVID vaccines) and mRESVIA (a vaccine against respiratory syncytial virus, or RSV). mNEXSPIKE launched commercially in the third quarter of 2025 and is now its leading product in the U.S. retail channel. Its pipeline has 35 therapeutic and vaccine programs, 6 of them in late-stage development, across three franchises: infectious disease vaccines, oncology therapeutics and rare disease therapeutics. In infectious disease, regulatory filings are under review for a flu+COVID combination vaccine (mRNA-1083) in Europe and Canada and for a seasonal flu vaccine (mRNA-1010) in the U.S., Europe, Canada and Australia. The FDA has set a PDUFA goal date of August 5, 2026 for mRNA-1010. A norovirus candidate (mRNA-1403) is in Phase 3. In oncology, Moderna is developing intismeran autogene (mRNA-4157), an individualized neoantigen therapy, with Merck in combination with KEYTRUDA, with eight Phase 2 and Phase 3 trials underway. It is also advancing mRNA-4359 and early-stage programs. In rare disease, the propionic acidemia therapeutic (mRNA-3927) has reached target enrollment in a registrational study and is the subject of a January 2026 collaboration with Recordati. A registrational study for the methylmalonic acidemia therapeutic (mRNA-3705) is expected to begin in 2026.

Moderna sells its vaccines in the U.S. and internationally. Spikevax has 2025-2026 approvals in 40 countries, and mNEXSPIKE is also approved in Europe, Canada and Australia. mRESVIA is approved in 40 countries for adults 60 and older, and in 31 of them for high-risk adults aged 18-59. Moderna has long-term partnerships in the UK, Canada and Australia, and it expects these to support 2026 revenue growth along with continued mNEXSPIKE uptake in the U.S. Its stated priorities are sales growth, cost efficiency, execution on its prioritized pipeline, and advancing its early pipeline and platform technology.

The platform rests on three components: mRNA science, delivery science (proprietary lipid nanoparticles) and manufacturing process science. Moderna makes mRNA by cell-free in vitro transcription. Since 2022 it has streamlined its production sites into a global manufacturing network. In 2025 it announced new drug product capabilities in the U.S. and added three Moderna-built and managed facilities in the UK, Canada and Australia. Its Marlborough, Massachusetts facility was built for intismeran and began clinical batch supply in September 2025. The text does not name suppliers, competitors or the headquarters location.