Moderna, Inc. (MRNA)

Moderna's stock price has experienced a significant decline over the past year, dropping by 49.71%, and a decrease of 2.93% over the last six months (as of October 28, 2025). In Q2 2025, Moderna reported revenues of $142 million, a 41% drop from the same period in 2024, primarily due to lower COVID-19 vaccine sales, and a GAAP net loss of $800 million. In October 2025, Moderna announced the discontinuation of its experimental cytomegalovirus (CMV) vaccine (mRNA-1647) after its Phase 3 trial failed to meet the primary efficacy endpoint. In 2025, Moderna received approval for its third product, mNEXSPIKE, a COVID-19 vaccine for adults aged 65 and older, and individuals aged 12–64 with specified risk factors. Moderna announced plans to lay off 10% of its staff in 2025 as part of its cost-cutting measures. In September 2025, positive preliminary data for Moderna's updated 2025-2026 Spikevax formula contributed to a rally in the stock.

Demand for Moderna's products, particularly its COVID-19 vaccines, has transitioned to a more seasonal pattern. The company anticipates a seasonal increase in demand for respiratory products, including its COVID-19 vaccine, in the second half of the year, aligning with the fall and winter seasons. Moderna's revenue expectations for 2025 reflect this seasonal demand, with a projected increase in the latter half of the year.

Moderna, Inc. is an American pharmaceutical and biotechnology company specializing in messenger RNA (mRNA) therapeutics and vaccines. The company's core business revolves around developing medicines that utilize mRNA technology to instruct cells to produce proteins that can fight or prevent diseases. Moderna's major commercial products include the Moderna COVID-19 vaccine, marketed as Spikevax, and a respiratory syncytial virus (RSV) vaccine, marketed as Mresvia. The company has an extensive pipeline with 44 treatment and vaccine candidates, 37 of which have entered clinical trials, encompassing a range of drug modalities, including vaccines for respiratory viruses, latent and other viruses, oncology therapeutics, and rare disease therapeutics.

Moderna's operations span three primary regions: the United States, Europe, and the Rest of the World. The company maintains manufacturing units in Canada, the US, the UK, and Australia. Moderna has also expanded its commercial network across Asia, with established subsidiaries in Japan, South Korea, and Australia, and plans for additional subsidiaries in Malaysia, Taiwan, Singapore, and Hong Kong. Regulators have approved Moderna's COVID-19 vaccine in over 70 markets globally, including Canada, Japan, the European Union, the UK, and Israel.

In the past year, Moderna has received positive recognition for its corporate standing and as an employer. In January 2024, Moderna was named to Fortune's World's Most Admired Companies list. For the eleventh consecutive year, Moderna was ranked as a top employer in the global biopharmaceutical industry in Science and Science Careers' 2025 Top Employers Survey. However, the company has faced scrutiny over vaccine pricing and profit margins, prompting discussions about ethical practices in the pharmaceutical industry. The recent failure of the CMV vaccine in Phase 3 trials could also impact its reputation.

Approximately 44.55% of Moderna's stock is owned by Institutional Investors, 7.71% by Insiders, and 47.74% by Public Companies and Individual Investors. Major institutional owners include Vanguard Group Inc, BlackRock, Inc., Baillie Gifford & Co, Fmr Llc, State Street Corp, Geode Capital Management, Llc, and Morgan Stanley.