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Get filing alertsModerna reports Q2 loss of $782M, cuts 2026 opex by ~$200M, awaits Aug 5 flu vaccine decision
Filed July 31, 2026 · Period ending July 31, 2026 · ~1 min read
Key Changes
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Q2 2026 revenue $145M (flat YoY); net loss $782M or $(1.97)/share, improved 5% from Q2 2025 on lower operating expenses despite continued weak COVID vaccine sales
Exhibit 99.1 view on EDGAR → -
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Flu vaccine mFLUSIVA received unanimous FDA advisory committee recommendation; PDUFA decision Aug 5, 2026—would be Moderna's fifth approved product and first non-COVID commercial vaccine
Exhibit 99.1 view on EDGAR → -
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Lowered 2026 R&D guidance to ~$2.9B (from $3.0B) and cost of sales to ~$1.7B (from $1.8B); improved projected year-end cash to $4.7-5.2B, ~$200M better than prior outlook
Exhibit 99.1 view on EDGAR → -
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Norovirus vaccine mRNA-1403 Phase 3 interim analysis did not meet statistical criteria for early success; trial ongoing and blinded, company enrolling additional cohort
Exhibit 99.1 view on EDGAR →
Summary
Moderna reported Q2 2026 results showing continued financial pressure but improving cost discipline. Revenue of $145 million was essentially flat year-over-year as lower U.S. and South American COVID vaccine sales were offset by UK deliveries under a strategic partnership and higher collaboration revenue.
The net loss of $782 million ($1.97 per share) improved 5% from the prior-year quarter, driven by lower operating expenses. Management reduced 2026 R&D guidance by $100 million to approximately $2.9 billion and cost of sales by $100 million to $1.7 billion (including a $900 million litigation settlement charge), improving the projected year-end cash position by roughly $200 million to $4.7-5.2 billion.
The near-term catalyst is the August 5 PDUFA decision for mFLUSIVA, Moderna's seasonal influenza vaccine, which received a unanimous FDA advisory committee recommendation. Approval would mark the company's first commercial vaccine outside COVID-19 and its fifth approved product overall, a critical step in diversifying revenue. The norovirus vaccine setback—Phase 3 interim analysis did not meet early success criteria—is a pipeline disappointment, though the trial continues with plans to enroll an additional cohort. For holders, the August 5 decision is the immediate focus: approval could validate Moderna's mRNA platform in a large seasonal market, while rejection would narrow near-term commercial prospects and intensify cash-burn scrutiny.
Section-by-Section Diff
Event · Exhibit 99.1
Moderna reports Q2 2026 revenue of $145M, net loss of $782M, improves 2026 operating expense outlook by ~$200M, and awaits Aug 5 PDUFA for flu vaccine.
Added in current filing · view on EDGAR →
Total revenue for the second quarter of 2026 was $145 million, compared to $142 million in the same period in 2025. Lower COVID vaccine sales in the U.S. and South America were offset by deliveries in the United Kingdom under a long-term strategic government partnership and higher ... stand-ready manufacturing and collaboration revenue. Revenue was $87 million in the U.S. and $58 million in international markets.
Moderna reported Q2 2026 revenue of $145 million, essentially flat year-over-year. U.S. revenue was $87 million and international was $58 million. Lower COVID vaccine sales in the U.S. and South America were offset by UK deliveries under a strategic partnership and higher stand-ready manufacturing and collaboration revenue.
Added in current filing · view on EDGAR →
Net loss was $(0.8) billion for the second quarter of 2026, an improvement of $43 million, or 5%, compared to the second quarter of 2025. ... Loss per share was $(1.97) for the second quarter of 2026, compared to loss per share of $(2.13) for the second quarter of 2025.
Moderna reported a Q2 2026 net loss of $782 million, or $(1.97) per share, an improvement of $43 million (5%) from Q2 2025's loss of $825 million or $(2.13) per share. The improvement reflects lower operating expenses partially offset by continued low revenue.
Added in current filing · view on EDGAR →
its investigational seasonal influenza vaccine, mFLUSIVA®, received a unanimous recommendation from the Vaccines and Related Biological Products Advisory Committee (VRBPAC) ahead of an August 5 Prescription Drug User Fee Act (PDUFA) goal date in the U.S. ... The U.S. FDA has assigned a PDUFA date for mRNA-1010 of August 5, 2026.
Moderna's seasonal influenza vaccine candidate mFLUSIVA (mRNA-1010) received a unanimous recommendation from the FDA's VRBPAC and has a PDUFA date of August 5, 2026. If approved, this would be Moderna's fifth approved product, expanding its commercial portfolio beyond COVID vaccines.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 3, 2026 · How we verify