Moderna (MRNA) Stock News

Moderna (NASDAQ:MRNA) priced an upsized private offering of $2.6 billion aggregate principal amount of 0.00% Convertible Senior Notes due 2032, sold to qualified institutional buyers under Rule 144A. The deal was increased from a previously announced $2.0 billion, with initial purchasers granted a $400 million option for additional notes.

The notes are senior unsecured, carry no regular interest, and mature on March 1, 2032, unless earlier converted, redeemed or repurchased. Moderna estimates net proceeds of about $2,562.9 million (or $2,957.3 million if the option is fully exercised), and expects to use approximately $285.0 million for capped call transactions and the remainder for general corporate purposes, potentially including oncology growth investments and debt repayment.

The initial conversion rate is 4.7487 shares per $1,000 (conversion price ~$210.58), a 47.5% premium to the $142.77 share price on August 27, 2026. Capped calls with a cap price of $392.6175 (a 175.0% premium) are intended to reduce dilution and/or offset cash payments above principal upon conversion, subject to customary adjustments and conditions.

Moderna (NASDAQ:MRNA) announced U.S. FDA approval of supplemental Biologics License Applications for its 2026-2027 formulas of Spikevax and mNEXSPIKE COVID-19 vaccines, updated to a monovalent JN.1-lineage XFG subvariant composition. According to Moderna, the updated Spikevax is approved for adults 65+ and for individuals 6 months through 64 years at high risk for severe COVID-19. mNEXSPIKE is approved for adults 65+ and for those 12 through 64 years at high risk.

Moderna said the updated vaccines are expected to be available in the U.S. in the coming days and that Spikevax’s 2026-2027 formula has already received approvals in Europe, South Korea, Singapore, Switzerland, the UK and other countries, while mNEXSPIKE has been approved in Japan, with additional regulatory reviews ongoing globally.

Moderna (NASDAQ:MRNA) plans a private placement of $2.0 billion aggregate principal amount of Convertible Senior Notes due 2032, offered only to qualified institutional buyers under Rule 144A. Initial purchasers are expected to receive an option to buy up to an additional $300 million of notes for 13 days after initial issuance.

The notes are senior unsecured obligations, bear no regular interest and have non‑accreting principal. Upon conversion, Moderna may settle in cash, stock or both. According to Moderna, net proceeds will fund capped call transactions and general corporate purposes, potentially including oncology growth investments and debt repayment. Moderna also expects to enter capped call hedges designed to reduce dilution up to a cap initially at least 150% of the stock price at pricing.

Merck (NYSE: MRK) and Moderna (NASDAQ: MRNA) reported positive topline Phase 3 results from the global INTerpath‑001 trial in completely resected stage IIB‑IV cutaneous melanoma. The combination of intismeran autogene (V940/mRNA‑4157), an individualized mRNA neoantigen therapy, plus KEYTRUDA met the primary endpoint of recurrence‑free survival and a key secondary endpoint of distant metastasis‑free survival versus KEYTRUDA alone.

According to the companies, this is the first positive Phase 3 readout for an individualized neoantigen therapy and for an mRNA‑based cancer therapy, and the first Phase 3 trial to show a clinically meaningful improvement over KEYTRUDA monotherapy in the adjuvant melanoma setting. The study enrolled 1,137 patients randomized 2:1 to intismeran+KEYTRUDA versus KEYTRUDA alone, with dosing for up to about one year. Safety for both agents was consistent with prior studies, with no new safety signals observed. The trial will continue to assess additional secondary endpoints, including overall survival, and Merck and Moderna plan to present the data at an international medical meeting and to discuss potential regulatory submissions.

Moderna (NASDAQ:MRNA) received full U.S. FDA approval for mFLUSIVA (mRNA‑1010), an mRNA-based seasonal influenza vaccine indicated for adults 50 years and older. This is Moderna’s fifth approved product globally and fourth FDA-approved product, and the first mRNA flu vaccine approved in the U.S.

Approval in adults 50–64 is supported by a randomized Phase 3 trial (40,805 participants) evaluating safety, reactogenicity and relative vaccine efficacy versus a standard-dose comparator. Use in adults 65+ is under accelerated approval based on immunogenicity data from a separate randomized trial (2,992 participants), with clinical benefit to be confirmed postmarketing. The Phase 3 program showed an acceptable safety profile with no new safety concerns identified. Moderna expects U.S. supply for eligible populations in the 2026–2027 respiratory virus season and has regulatory reviews underway in the EU, Canada and Australia.

Moderna (NASDAQ:MRNA) reported that Health Canada has authorized, and first participants have been vaccinated in, a Phase 1 clinical trial in Canada of mRNA-1469, its investigational mRNA vaccine candidate to prevent Bundibugyo ebolavirus (BDBV) disease, a strain of Ebola with no licensed vaccines.

According to Moderna, the first-in-human study (NCT07737717) at three Canadian sites will assess safety, tolerability and immunogenicity in about 80 healthy adult participants. The program is part of an expanded collaboration with the Coalition for Epidemic Preparedness Innovations (CEPI), which has committed up to US$50 million for preclinical work, Phase 1, and scaled manufacturing of additional clinical doses to support rapid progression to later-stage trials if results justify. Moderna states that, under its CEPI agreement, it will make at least 500,000 doses available for timely supply to low- and middle-income countries at access pricing if the vaccine is licensed.

Moderna (NASDAQ:MRNA) reported second quarter 2026 revenue of $145 million, slightly above $142 million a year earlier, with a GAAP net loss of $(782) million and GAAP EPS of $(1.97). Cost of sales fell 22% year over year, R&D declined 7%, and SG&A decreased 6%.

Cash, cash equivalents and investments totaled $6.9 billion at June 30, 2026, before a $950 million litigation payment in July. For 2026, Moderna targets up to 10% revenue growth, has lowered expected cost of sales to $1.7 billion and R&D to $2.9 billion, and now projects year-end cash and investments of $4.7–$5.2 billion.

According to Moderna, commercial progress included a COVID vaccine collaboration in Brazil, an EU joint procurement contract for up to 24 million mRESVIA doses, and multiple regulatory approvals for mRESVIA, mNEXSPIKE and combination vaccine mCOMBRIAX. A U.S. PDUFA date of August 5, 2026 is set for flu vaccine candidates mFLUSIVA and mRNA‑1010, while norovirus candidate mRNA‑1403 did not meet statistical criteria for early success at an interim Phase 3 analysis.

Moderna (NASDAQ:MRNA) announced dosing of the first U.S. participant in its Phase 1 trial of mRNA-4200, an investigational tumor-targeted cancer antigen therapy for adults with advanced or metastatic solid tumors. mRNA-4200 encodes seven antigens shared across patients and tumor types to help induce and expand T-cell responses against selected tumor targets.

The first dose was given at START Mountain Region in Salt Lake City, part of The START Center for Cancer Research network. The Phase 1 study (NCT06880549) is an open-label, multicenter, dose-escalation trial evaluating safety and tolerability of mRNA-4200 with checkpoint inhibitor therapy. mRNA-4200 is Moderna’s third off-the-shelf cancer antigen therapy and was developed with Immatics, using its XPRESIDENT® target discovery and XCUBE® bioinformatics and AI platforms.

Moderna (NASDAQ:MRNA) will hold a live conference call and webcast at 8:00 a.m. ET on Friday, July 31, 2026 to report its second quarter 2026 financial results and provide a corporate update.

The live and archived webcasts will be available in the Investors section of Moderna's website.