Financial Data and Key Metrics Changes - In Q2 2025, the company reported revenues of $100 million and a net loss of $800 million, reflecting the seasonal nature of its respiratory vaccine business [6] - Cash and investments at the end of the quarter stood at $7.5 billion, down from $8.4 billion at the end of Q1 2025 [15] - The company achieved a 35% reduction in combined cost of sales, R&D, and SG&A compared to 2024, with cash operating expenses reduced by $581 million year-over-year, representing a 40% reduction [7][10] Business Line Data and Key Metrics Changes - Net product sales for the quarter were $114 million, primarily driven by COVID vaccine sales, with a 38% decline compared to 2024 [12] - R&D expenses were $700 million, down 43% year-over-year, attributed to the wind down of respiratory trials and lower clinical manufacturing costs [13] - SG&A expenses were $230 million, reflecting a 14% year-over-year decrease due to broad-based cost reductions [14] Market Data and Key Metrics Changes - The U.S. accounted for approximately 80% of total sales, with international markets contributing the remainder [12] - The company updated its 2025 projected revenue range to $1.5 billion to $2.2 billion, reflecting a $300 million reduction at the high end due to a timing shift of UK COVID shipments [16][17] Company Strategy and Development Direction - The company is focused on three strategic priorities: driving use of commercial products, advancing its pipeline, and executing with financial discipline [9][41] - The company aims to secure up to 10 product approvals targeting an addressable market exceeding $30 billion [41] - A workforce reduction of approximately 10% was announced to align the cost structure with current business conditions while sustaining investments in the mRNA pipeline [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving cash breakeven by 2028, supported by ongoing cost reduction initiatives [28][43] - The company is optimistic about the upcoming approvals for seasonal flu and flu plus COVID combination vaccines, as well as the readout of CMV Phase III efficacy data later this year [45][46] Other Important Information - The UK Court of Appeal upheld the validity of Moderna's EP949 patent, which is infringed by Pfizer and BioNTech, reinforcing the company's commitment to enforce its patent rights globally [11] - The company is leveraging AI tools to enhance operational efficiency, with 100% of knowledge workers actively using ChatGPT [43] Q&A Session Summary Question: Context for CMV changes and data cadence for neoantigen therapy - Management explained the rationale for adding secondary endpoints to the CMV study to enhance the analysis and protect the study's integrity, with results expected in the fall [50][51][87] - The cadence of results for the individualized neoantigen therapy is anticipated to be consistent over the next year, with several studies expected to read out [54] Question: Pricing expectations for COVID vaccine - Management indicated that pricing discussions are complete, with a revenue range of $1 billion to $1.5 billion for U.S. product sales, factoring in competitive pressures and vaccination rates [57][60] Question: Balancing R&D investments and cost-cutting - Management emphasized the importance of investing in the late-stage pipeline while also reducing costs, with a focus on diversifying the product portfolio beyond seasonal products [79][83] Question: Employee headcount reduction context - The company clarified that the headcount reduction is part of a broader strategy to enhance efficiency while continuing to invest in key areas [90]

每经AI快讯，8月1日，莫德纳公司股价延续跌势，盘前最新下跌6.5%。 ...

Financial Performance - Total revenue for Q2 2025 was $142 million, a decrease of 41% compared to $241 million in Q2 2024[12] - Net product sales decreased by 38%, from $184 million in Q2 2024 to $114 million in Q2 2025[12] - Net loss was $825 million in Q2 2025, a 35% improvement compared to a net loss of $1279 million in Q2 2024[12] - Operating expenses decreased by 35%, a reduction of $555 million, from $1604 million in Q2 2024 to $1049 million in Q2 2025[8, 12] - Cash, cash equivalents, and investments decreased by 11%, from $84 billion as of March 31, 2025, to $75 billion as of June 30, 2025[8, 14] Pipeline and Approvals - The company received three new U S FDA approvals, expanding the commercial portfolio[9] - Positive Phase 3 data for mRNA-1010, the flu vaccine, showed superior relative vaccine efficacy compared to a licensed standard-dose seasonal influenza vaccine in adults aged 50 years and older[9, 35] Financial Outlook and Cost Reduction - The company updated its 2025 GAAP financial framework, lowering the high end of the total revenue range from $25 billion to $15 - $22 billion, primarily due to the timing of UK COVID shipments moving from 2H25 to 1Q26[15] - The company is reducing 2025 GAAP operating expenses by approximately $04 billion and progressing toward intermediate-term cost reduction goals[16] - The company continues to target cash breakeven in 2028[55]

智通财经8月1日电，莫德纳公司股价延续跌势，盘前最新下跌6.5%。 ...

莫德纳盘前跌幅扩大至6.5%。 ...

Moderna’s second-quarter loss was narrower than Wall Street expected as the struggling biotech company cuts costs to offset waning sales of its Covid shot https://t.co/xDgt1BCeZy ...

Core Viewpoint - Moderna has lowered its 2025 revenue outlook due to delays in vaccine shipments to the U.K., while still beating Wall Street expectations for the second quarter as it implements cost-cutting measures [1][2]. Revenue Outlook - The company now expects full-year revenue to be between $1.5 billion and $2.2 billion, a decrease of $300 million at the top end of the range [2]. - The delay in shipping spring Covid boosters to the U.K. has shifted deliveries to the first quarter of 2026, but the overall contract value remains unchanged [3]. Second Quarter Performance - Moderna reported second-quarter sales of $142 million, a 41% decline from the same period last year, primarily due to decreasing Covid vaccine sales [4]. - The revenue from the Covid vaccine accounted for $114 million of the total, surpassing analysts' expectations of $89 million [5][7]. - The company's vaccine for respiratory syncytial virus had negligible sales, falling short of the expected $5.9 million [5]. Financial Losses - Moderna posted a net loss of $825 million, or $2.13 per share, for the second quarter, an improvement from a net loss of $1.3 billion, or $3.33 per share, in the same quarter last year [5][6]. - The loss per share was better than the expected loss of $2.97 [7]. Cost Management - The company's efforts to cut costs resulted in a 27% reduction in second-quarter operating expenses, which fell to $1.1 billion from $1.6 billion year-over-year [6].

Exhibit 99.1 Moderna Reports Second Quarter 2025 Financial Results and Provides Business Updates Reports second quarter revenues of $0.1 billion, GAAP net loss of $(0.8) billion and GAAP EPS of $(2.13) Updates 2025 projected revenue range to $1.5 to $2.2 billion, reflecting a $300 million reduction at the high end, primarily driven by timing of deliveries for contracted revenue into the first quarter of 2026 Improves 2025 expected GAAP operating expenses by approximately $400 million to a range of $5.9 to $ ...

资本市场的反应暗示着对Moderna商业策略的怀疑，投资者对新冠疫苗和呼吸道合胞病毒（RSV）疫苗 的销量反弹信心不足。 当地时间7月31日，美国新冠疫苗巨头莫德纳（Moderna）宣布将在全球裁员10%，到今年年底前将把员 工人数裁撤至约5000人，裁员规模近千人。公司表示，这是由于新冠疫苗销量持续下滑导致。Moderna 股价当天盘后大跌超8%。 就在上个月，Moderna突然宣布，由于全球及日本商业环境发生变化，将取消在日本建设mRNA药物生 产工厂的计划。 今年5月，Moderna表示，到2027年，将把年度运营支出削减约15亿美元。Moderna将于当地时间8月1日 公布最新季度财报。 尽管距离新冠疫情暴发已有5年，但Moderna仍执着于新一代新冠疫苗的研发。今年5月，美国食品药品 监督管理局（FDA）批准了Moderna的第三款疫苗产品——针对新变异株的新冠疫苗。Moderna表示， 未来三年内，该公司可能还会有多达八款新产品获批上市。 但资本市场的反应暗示着对Moderna商业策略的怀疑，投资者对新冠疫苗和呼吸道合胞病毒（RSV）疫 苗的销量反弹信心不足。 相比之下，同样在疫情中异军突起的德国 ...

当地时间7月31日，美国新冠疫苗巨头莫德纳（Moderna）宣布将在全球裁员10%，到今年年底前将把员 工人数裁撤至约5000人，裁员规模近千人。公司表示，这是由于新冠疫苗销量持续下滑导致。Moderna 股价当天盘后大跌超8%。 资本市场的反应暗示着对Moderna商业策略的怀疑，投资者对新冠疫苗和呼吸道合胞病毒（RSV）疫苗 的销量反弹信心不足。 但资本市场的反应暗示着对Moderna商业策略的怀疑，投资者对新冠疫苗和呼吸道合胞病毒（RSV）疫 苗的销量反弹信心不足。 相比之下，同样在疫情中异军突起的德国新冠疫苗厂商BioNTech在疫情后及时调整了策略，获得了资 本的认可。 "Moderna错过了利用新冠疫苗曾带来的丰厚收入进行产品多元化的布局的机会，如果他们能进行更多 产品引进授权，可能会是资本市场更乐于见到的局面，而不会像今天这样被动。这是一个公司战略的选 择问题，他们可能对于自己的研发能力过于自信了。"一位生物医药投资人对第一财经记者表示。 BioNTech过去一年股价上涨近25%，目前市值超过250亿美元，是Moderna的两倍多。 Moderna也在开发一款针对黑色素瘤的肿瘤疫苗，并已进入三期 ...