Moderna: Second Quarter 2025 Financial Results and Business Updates

This document presents Moderna's second quarter 2025 financial results, highlighting a net loss of $(0.8) billion and revenues of $0.1 billion. The report also updates the 2025 projected revenue range to a reduced $1.5 to $2.2 billion, while simultaneously improving expected GAAP operating expenses by approximately $400 million. Key business updates include recent FDA approvals for their COVID-19 and RSV vaccines, and positive Phase 3 efficacy results for their seasonal influenza vaccine. Furthermore, the document details progress across their late-stage pipeline, encompassing respiratory, latent, and oncology vaccines, as well as rare disease therapeutics, and announces an organizational restructuring with a 10% global workforce reduction.

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