---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-053318"
form_type: "8-K"
ticker: "MRNA"
cik: "0001682852"
company_name: "Moderna, Inc."
filed_at: "2025-11-20T23:59:59+00:00"
generated_at: "2026-05-16T18:04:10.597510+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001628280-25-053318
- form_type: 8-K
- ticker: MRNA
- cik: 0001682852
- company_name: Moderna, Inc.
- filed_at: 2025-11-20T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1682852/000162828025053318/0001628280-25-053318-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1682852/000162828025053318/mrna-20251120.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-053318
- JSON: https://secwatch.observer/filing/0001628280-25-053318.json
- Plain text: https://secwatch.observer/filing/0001628280-25-053318.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.