Overview

• Moderna posted a Q1 adjusted loss of $2.52 per share, outperforming analysts' expectations of a $3.14 loss, driven by cost-cutting measures.
• Quarterly revenue totaled $108 million, slightly exceeding projections, with $84 million from the COVID-19 vaccine Spikevax and $2 million from the RSV vaccine mRESVIA.
• The company expanded its cost-reduction program, targeting $4.7–$5 billion in operating costs by 2027, a decrease of up to $1.7 billion from 2025 estimates.
• Regulatory approval for Moderna's COVID-flu combination vaccine is now anticipated in 2026 following FDA requests for additional Phase 3 efficacy data.
• Moderna reiterated its 2025 sales forecast of $1.5–$2.5 billion, with revenue expected to be concentrated in the second half of the year.