Archive photo: Ryan Lackey / U.S. Air Force
Moderna returned to profit in the third quarter and raised its full-year sales outlook Friday, as stronger overseas demand for its COVID-19 vaccines and deliveries under long-term government partnerships lifted revenue.
The biotechnology company reported revenue of $1.313 billion, up 29% from a year earlier. Net income reached $162 million, or 38 cents a diluted share, compared with a loss of $200 million, or 51 cents a share, in the same quarter of 2025.
Moderna now expects 2026 revenue to grow 15% to 25%, up from its previous forecast of growth of up to 10%. It also cut its forecast for annual research and development spending to about $2.7 billion from $2.9 billion.
Overseas sales drive the rebound
Third-quarter revenue included $780 million from the United States and $533 million from international markets. Moderna attributed the increase mainly to higher international COVID vaccine sales, supported by long-term government partnerships.
The company pointed to agreements with the United Kingdom, Canada and Australia, and a five-year arrangement signed in September with a local manufacturer in Mexico for COVID-19 vaccines. Moderna still expects roughly half of its 2026 revenue to come from the United States and half from overseas markets.
Lower development spending also helped the return to profit. Quarterly research and development costs fell 27% to $583 million as some late-stage infectious-disease studies ended or wound down and the company reduced costs.
New products and cancer research
Moderna said its newly approved stand-alone flu vaccine, mFLUSIVA, is having a limited U.S. launch for the 2026-2027 season because approval came after the annual contracting cycle.
The company is also working with Merck on regulatory submissions for intismeran autogene, an investigational personalized cancer treatment studied with Keytruda in high-risk melanoma. Intismeran is not approved; a potential commercial launch remains subject to regulatory approval.
JBizNews Desk | Cambridge, Mass.
© JBizNews.com. All rights reserved. Unauthorized reproduction or redistribution is strictly prohibited.
