Moderna targets up to 10% revenue growth in 2026; closes $1.5B loan facility

Moderna, Inc.

Targets up to 10% revenue growth in 2026; expanding seasonal vaccine franchise to up to six approved products by 2028.
Reducing 2026 and 2027 GAAP operating expenses by ~$0.5B each year on path to cash breakeven in 2028.
Closed a five-year $1.5B term loan facility from Ares Management Credit Funds; initial draw $0.6B.
Discontinues four pipeline programs: CMV, HSV, VZV, and GSD1a; advances nine oncology Phase 2/3 studies.
Updated 2025 year-end cash guidance to $7.1-$7.6B (from $6.5-$7.0B) due to loan draw.

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