---
schema_version: "secwatch.filing_event.v1"
accession: "0001682852-26-000007"
form_type: "8-K"
ticker: "MRNA"
cik: "0001682852"
company_name: "Moderna, Inc."
filed_at: "2026-01-12T23:59:59+00:00"
generated_at: "2026-05-16T10:53:45.468610+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Moderna reports prelim 2025 rev ~$1.9B, cuts OpEx guidance, expects flu/COVID combo approvals in 2026

## Summary
- 2025 preliminary revenue ~$1.9B ($100M above midpoint); GAAP OpEx $5.0-5.2B (improved $200M).
- Year-end cash ~$8.1B including $0.6B draw from new $1.5B Ares term loan facility.
- 2026 targets: up to 10% revenue growth, $4.9B GAAP OpEx; 2027 OpEx $4.2-4.6B, path to cash breakeven 2028.
- Expects 2026 approvals of flu vaccine mRNA-1010 and flu/COVID combo mRNA-1083; multiple pivotal readouts in oncology/rare disease.
- Closed $1.5B term loan from Ares; CEPI commits $54.3M for H5 pandemic flu vaccine Phase 3 trial.

## SEC filing metadata
- accession: 0001682852-26-000007
- form_type: 8-K
- ticker: MRNA
- cik: 0001682852
- company_name: Moderna, Inc.
- filed_at: 2026-01-12T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1682852/000168285226000007/0001682852-26-000007-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1682852/000168285226000007/mrna-20260112.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001682852-26-000007
- JSON: https://secwatch.observer/filing/0001682852-26-000007.json
- Plain text: https://secwatch.observer/filing/0001682852-26-000007.txt

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