Moderna presented positive Phase 3 data for its investigational influenza vaccine mRNA‑1010 and RSV vaccine mRESVIA at the European Society of Clinical Microbiology and Infectious Diseases (ESCMID) Global Congress in Munich, Germany, on April 17‑21 2026. The announcement was made on April 08 2026, marking a key milestone in the company’s seasonal respiratory vaccine program.
The Phase 3 results show favorable immune responses and safety profiles for both mRNA‑1010 and mRESVIA. mRNA‑1010 has been accepted for review in the United States, Europe, Canada, and Australia, while mRESVIA has already received approvals in Australia, Taiwan, the United Kingdom, and Switzerland. The company has received a Refusal‑to‑File letter from the U.S. FDA for mRNA‑1010 and has requested a Type A meeting to clarify the path forward.
Moderna’s 2025 revenue totaled $1.9 billion, down from $3.2 billion in 2024 and $6.8 billion in 2023, reflecting the decline in COVID‑19 vaccine sales. In Q1 2025 the company generated $0.1 billion in revenue and posted a net loss of $1 billion. Management has guided 2025 revenue to a range of $1.5‑$2.5 billion, with $0.2 billion expected in the first half of the year. A 19% reduction in combined cost of sales, research and development, and SG&A expenses compared with Q1 2024 underscores the company’s focus on cost discipline.
CEO Stéphane Bancel noted that “We observed lower vaccination rates compared to Q1 last year, reflecting the continued transition of COVID into routine seasonal vaccination patterns.” The statement highlights the company’s shift toward a sustainable seasonal vaccine franchise and its broader pipeline, which includes oncology, a norovirus vaccine, and rare‑disease therapeutics.
Analysts have adjusted their outlooks, with the consensus rating “Reduce” as of April 5 and an average 12‑month target of $33.87. Barclays raised its target to $48.00 on April 2, reflecting optimism about Moderna’s diversification beyond COVID‑19.
The positive Phase 3 data are a critical step toward regulatory submissions and potential commercial launch, positioning Moderna to generate recurring revenue streams beyond its pandemic‑era franchise. The results reinforce the company’s strategy to leverage its mRNA platform across multiple respiratory indications and support its broader pipeline ambitions.
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