Moderna Inc
modernatx.comModerna Inc (NASDAQ: MRNA) is a biotechnology company that discovers, develops, manufactures, and commercializes mRNA-based medicines. Revenue comes from product sales, primarily its COVID-19 vaccines. Moderna operates in the respiratory vaccine market alongside established pharmaceutical competitors, with its commercial portfolio consisting of three approved products as of FY2025: Spikevax and mNEXSPIKE (COVID-19 vaccines) and mRESVIA (RSV vaccine). mNEXSPIKE launched commercially in Q3 2025 and became the company's leading product in the U.S. retail channel. Total FY2025 revenue was $1.9 billion, largely from COVID vaccine sales. Beyond commercial products, Moderna is advancing a pipeline across oncology, rare disease, and infectious disease, including intismeran autogene (mRNA-4157), an individualized neoantigen therapy in development with Merck. The company is headquartered in the United States and filed its 10-K on February 20, 2026 (accession 000168285226000033).
Products & Services
Spikevax (COVID-19 vaccine), mNEXSPIKE (COVID-19 vaccine, launched Q3 2025, leading U.S. retail channel product as of FY2025), mRESVIA (RSV vaccine), and a development pipeline including intismeran autogene (mRNA-4157) individualized neoantigen therapy in oncology (Phase 2b with Merck's pembrolizumab/KEYTRUDA), plus early-stage programs in flu, flu+COVID combination, norovirus, rare disease, and oncology.
Revenue Model
Transactional product sales of approved mRNA vaccines, primarily COVID-19 vaccines (Spikevax and mNEXSPIKE) and the RSV vaccine mRESVIA, generating $1.9 billion in total FY2025 revenue.
Customers & Markets
Respiratory vaccine market (COVID-19, RSV); retail pharmacy channel in the U.S.; oncology and rare disease patients as pipeline matures. Government and institutional purchasers implied by vaccine distribution context in the filing.
Geographic Exposure
Filing references geographic expansion as a growth driver and mentions a global team, but specific revenue by geography is not detailed in the provided excerpts. U.S. retail channel explicitly cited for mNEXSPIKE.
Financial Snapshot
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