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Stock research / United States / MRNA · Biological Products, (No Diagnostic Substances) · Nasdaq

Moderna, Inc. (MRNA)

Moderna works in mRNA medicine, using a single technology platform to develop vaccines and therapeutics across infectious disease, oncology and rare disease. The filing describes the company as a pioneer and leader in the field. There are three commercial products: the COVID vaccines Spikevax and mNEXSPIKE, and mRESVIA, a vaccine against respiratory syncytial virus for older adults and high-risk adults aged 18 to 59. mNEXSPIKE was launched commercially in the third quarter of 2025 and the company states that it is now the leading product in the United States retail channel.

Moderna, Inc.

Moderna works in mRNA medicine, using a single technology platform to develop vaccines and therapeutics across infectious disease, oncology and rare disease. The filing describes the company as a pioneer and leader in the field. There are three commercial products: the COVID vaccines Spikevax and mNEXSPIKE, and mRESVIA, a vaccine against respiratory syncytial virus for older adults and high-risk adults aged 18 to 59. mNEXSPIKE was launched commercially in the third quarter of 2025 and the company states that it is now the leading product in the United States retail channel.

The COVID vaccines

Spikevax came first. The FDA approved mNEXSPIKE in May 2025 for people 65 and over and for those aged 12 to 64 at high risk of severe COVID-19, and it concentrates the immune response on the domains of the SARS-CoV-2 spike protein that matter for neutralising antibody and T cell responses, using one-fifth of Spikevax's mRNA dose. Phase 3 data shared in April 2025 showed efficacy non-inferior to Spikevax and 13.5 percent relative vaccine efficacy against it in participants 65 and over. Because the virus keeps changing, the company develops variant-specific versions each season, following direction from the FDA, the European Medicines Agency and the World Health Organization. The 2025-2026 formulas of both vaccines target the LP.8.1 variant, and the Spikevax formula has been approved in 40 countries.

The pipeline

In infectious disease, regulatory filings are under review for a seasonal flu and COVID combination candidate in Europe and Canada, and for a seasonal flu candidate in the United States, Europe, Canada and Australia. On the flu candidate, after a Refusal-to-File letter the company met the FDA and submitted an amended biologics licence application with a revised pathway by age, seeking full approval for adults 50 to 64 and accelerated approval for adults 65 and over plus a post-marketing study in older adults; the FDA accepted the application with a goal date of 5 August 2026. A second Northern Hemisphere cohort has completed enrolment in the Phase 3 study of a norovirus candidate. In oncology the lead programme is intismeran autogene, an individualised neoantigen therapy run with Merck alongside Merck's pembrolizumab, with eight Phase 2 and Phase 3 trials under way across multiple tumour types; five-year Phase 2b data announced in January 2026 showed sustained improvement in recurrence-free survival in high-risk melanoma after complete resection. The company is also advancing a cancer antigen therapy designed to elicit T-cell responses against tumour and immunosuppressive cells. In rare disease, a propionic acidemia therapeutic has reached target enrolment in a registrational study and is now partnered with Recordati under a January 2026 collaboration covering the final stages of development and, if approved, global commercialisation.

Manufacturing

Manufacturing supports every stage, from drug substance and drug product for platform research, through material for toxicology studies and early human trials, to Phase 3 supply and commercial production, the last of these done alongside contract manufacturing organisations inside and outside the United States. The in-house campus is the Moderna Technology Center in Norwood, Massachusetts, a multi-building site the company purchased outright in December 2024 and which supplies preclinical research, toxicology, early and late clinical development, and commercial drug substance for vaccines. Construction began at that campus in 2025 for commercial drug product manufacturing and packaging, to give end-to-end capability on one site. A separate facility at Marlborough, Massachusetts was purpose-built for intismeran and began clinical batch supply in September 2025. Production sites have been streamlined into a single global network since 2022.

Selling it

There are commercial subsidiaries in key markets across North America, Europe and the Asia-Pacific region, with local teams where respiratory vaccine use is high, and third-party distributors and commercial alliances in countries without a direct presence. The filing describes the markets for these vaccines as seasonal, with a fragmented end customer base, unpredictable orders and uneven delivery timing, particularly in the United States, which is the largest market, and notes that the private vaccine market involves rebates, discounts and returns. Demand depends on medical need, viral evolution, public health authority recommendations and how motivated people are to vaccinate. Three mRNA manufacturing facilities built and managed by the company in the United Kingdom, Canada and Australia were fully licensed in 2025, and the government of each of those countries has entered a multi-year commitment to buy mRNA products.

From Moderna's annual report on Form 10-K for the year ended 31 December 2025. The filing

Compare with another name What $10,000 in Moderna became

Latest results

Latest quarterQ3 FY2026ended 30 September 2026 · 10-Q filed 6 November 2026
Revenue
$1.3 billion
+29.2% on the year · +805.5% on the quarter
Q4 FY2024Q3 FY2026
Net income
$162 million
Q4 FY2024Q3 FY2026
Diluted EPS
$0.38
Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

Last full yearFY2025ended 31 December 2025 · 10-K filed 20 February 2026
Revenue
$1.9 billion
-39.9% on the year
FY2018FY2025
Net income
-$2.8 billion
FY2018FY2025
Diluted EPS
-$7.26
FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The years before, in wordsModerna (MRNA) reported revenue of $1.9 billion for fiscal 2025, the year ended 31 December 2025, down 39.9% on the year before. Net loss was $2.8 billion and the diluted loss per share $7.26. Revenue was $3.2 billion in fiscal 2024, $6.8 billion in fiscal 2023, $19.3 billion in fiscal 2022 and $18.5 billion in fiscal 2021. Net income in the same years was a loss of $3.6 billion, a loss of $4.7 billion, $8.4 billion and $12.2 billion. Over the twelve months to 30 September 2026, Moderna reported revenue of $2.5 billion and net loss of $2.8 billion. Revenue grew 19.3% a year, compounded, over the five years to fiscal 2025. Moderna had 404 million shares outstanding at the latest filed count. At 30 September 2026 it carried $3.5 billion of debt and $1.2 billion of cash. At the close of 6 November 2026 the market cap of Moderna was $102.7 billion.

Ratios

From the filings

ROE-40.8%
ROCE-28.2%
Operating margin-116.0%
Net margin-110.5%
FCF margin-78.0%
Interest covern/a
Debt to equity0.52x
Cash conversionn/a
Share count, last 12 months3.3%
Sales CAGR, 3 years-53.4%
Profit CAGR, 3 yearsn/a
EPS, TTM-$7.10

At the close of 6 November 2026

Price$254.15
Market cap$102.7 billion
Stock P/En/a
Price to book15.0x
EV / EBITDAn/a
Dividend yieldn/a
Market cap / sales40.7x
52-week high$258.19
52-week low$22.36
Price, 1 year944.6%
Price CAGR, 3 years51.1%
Price CAGR, 5 years1.4%

29 ready-made ratios, from FCF yield to net debt to EBITDA, wait on the Formulas page, each with what it tells you. Browse and add them →

Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the borrowing lines of Moderna, Inc.'s balance sheet, added together, finance leases inside them only where the company puts them there; operating leases are a separate line. Nothing here is a valuation or a view.
MRNAgreeksoup.ai
Daily prices to 6 November 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

Quarterly results

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue7,2116,0664,7493,3645,0841,8623441,8312,8111672411,8629661081421,0166783891451,313
Cost of revenue9521,0171,3811,1001,9187927312,24192996.011551473990.011920745295593.0318
Gross profit6,2595,0493,3682,2643,1661,070-387-4101,88271.01261,34822718.023.0809226-56652.0995
Gross margin87%83%71%67%62%57%-112%-22%67%43%52%72%23%17%16%80%33%-146%36%76%
R&D6485547108201,2111,1311,1481,1601,4061,0631,2211,1371,122856700801775649651583
SG&An/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a268n/an/an/a282
Operating income5,4104,2272,4471,1661,580-366-1,867-2,0126.0-1,266-1,363-70.0-1,246-1,050-907-260-857-1,388-815130
Operating margin75%70%52%35%31%-20%-543%-110%0%-758%-566%-4%-129%-972%-639%-26%-126%-357%-562%10%
Pre-tax income5,4104,2292,4741,2171,655-305-1,749-1,95870.0-1,165-1,27921.0-1,184-964-818-187-799-1,334-767171
Tax rate10%14%11%14%11%n/an/an/a-210%n/an/a38%n/an/an/an/an/an/an/a5%
Net income4,8683,6572,1971,0431,46579.0-1,380-3,630217-1,175-1,27913.0-1,120-971-825-200-826-1,343-782162
Net margin68%60%46%31%29%4%-401%-198%8%-704%-531%1%-116%-899%-581%-20%-122%-345%-539%12%
Diluted EPS$11.29$8.58$5.24$2.53$3.61$0.19-$3.62-$9.53$0.55-$3.07-$3.33$0.03-$2.91-$2.52-$2.13-$0.51-$2.11-$3.40-$1.97$0.38
Operating cash flow3,3102,7633042521,662-1,225-915-1,600622-989-1,274-1,566825-1,037-919-847930-630-526-1,559
Capital expenditure12013287.089.092.01132341402201961821515221173.033.039.062.037.047.0
Free cash flow3,1902,6312171631,570-1,338-1,149-1,740402-1,185-1,456-1,717303-1,154-922-880891-692-563-1,606
Buybacks8576231,2981,006402526628-1.00.00.00.00.00.0n/an/an/an/an/an/an/a
Shares outstanding403m400m392m387m385m384m381m381m382m383m384m385m386m387m389m391m394m397m399m404m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss)

FY2016FY2017 †FY2018FY2019 †FY2020 †FY2021FY2022FY2023FY2024FY2025TTM
Revenue10820613560.080318,47119,2636,8483,2361,9442,525
Cost of revenuen/an/a0.00.08.02,6175,4164,6931,4648681,818
Gross profitn/an/a13560.079515,85413,8472,1551,7721,076707
Gross marginn/an/a100.0%100.0%99.0%85.8%71.9%31.5%54.8%55.3%28.0%
Research and development2754104544961,3701,9913,2954,8454,5433,1322,658
Operating income-224-269-413-546-76313,2969,420-4,239-3,945-3,074-2,930
Operating margin-206.4%-130.9%-306.0%-909.5%-95.0%72.0%48.9%-61.9%-121.9%-158.1%-116.0%
Pre-tax income-215-256-384-515-74413,2859,575-3,942-3,607-2,768-2,729
Income tax1.0-0.10.3-1.03.01,0831,213772-46.054.060.0
Effective tax raten/an/an/an/an/a8.2%12.7%n/an/an/an/a
Net income-216-256-385-514-74712,2028,362-4,714-3,561-2,822-2,789
Net margin-199.5%-124.3%-284.8%-856.7%-93.0%66.1%43.4%-68.8%-110.0%-145.2%-110.5%
Diluted EPS-$3.79-$4.18-$4.95-$1.55-$1.96$28.29$20.12-$12.33-$9.28-$7.26-$7.10
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by product or service FY2016 to FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
Net product salesn/an/a0.00.020017,67518,4356,6713,1091,81893.5%
Stand-ready manufacturing revenuen/an/an/an/an/an/an/an/an/a80.04.1%
Grant revenue6.928.912.612.0529735388n/a37.022.01.1%
Collaboration Arrangement Including Arrangements With Affiliaten/an/an/an/an/an/an/a83.048.013.00.7%
Licensing and royalty revenuen/an/an/an/an/an/an/an/an/a11.00.6%
Collaboration revenue69.114712348.074.061.0440n/an/an/an/a
Collaboration revenue from affiliate32.4n/an/an/an/an/an/an/an/an/an/a
Collaboration revenue from related party (Note 14)n/a30.0n/an/an/an/an/an/an/an/an/a
Net product sales FY2020 to FY2025Stand-ready manufacturing revenue FY2025Grant revenue FY2016 to FY2025Collaboration Arrangement Including Arrangements With Affiliate FY2023 to FY2025Licensing and royalty revenue FY2025Collaboration revenue FY2016 to FY2022Collaboration revenue from related party (Note 14) FY2017Collaboration revenue from affiliate FY2016
0.21FY20170.06FY201918.5FY20216.8FY20231.9FY2025

$ billion; hover a block for its figure and share; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Revenue by region FY2018 to FY2025

FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
United States89.155.07646,1775,1501,8951,7851,19961.7%
Rest of world46.00.06.05,4487,2983,59885369235.6%
Europen/a5.033.06,8466,8151,35559853.02.7%
United StatesRest of world FY2018 to FY2025Europe FY2019 to FY2025
0.14FY20180.06FY20190.80FY202018.5FY202119.3FY20226.8FY20233.2FY20241.9FY2025

$ billion; hover a block for its figure and share; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow

FY2016FY2017 †FY2018FY2019 †FY2020 †FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow66.7-331-331-4592,02713,6204,981-3,118-3,004-1,873-1,785
Capital expenditure33.158.410632.068.02844007071,051192185
Free cash flow33.6-390-437-4911,95913,3364,581-3,825-4,055-2,065-1,970
Free cash flow margin31.0%-189.4%-323.3%-818.3%243.8%72.2%23.8%-55.9%-125.3%-106.2%-78.0%
Cash from investing-649417-372-15.0-1,672-8,523-5,1764,2061,9491,946-1,510
Cash from financing4730.21,22752.02,033-873-3,448-1,37756.05933,357
Depreciation and amortisation15.120.524.931.031.0232348617185211239
Share-based compensation39.440.172.681.193.0142226305429483464
Buybacksn/an/an/a0.00.08573,3291,1530.02.0n/a
Diluted shares, weightedn/an/an/a331m381m431m416m382m384m389m430m
Shares outstanding at period endn/a65m329m337m399m403m385m382m386m394m404m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet

FY2016FY2017 †FY2018FY2019 †FY2020 †FY2021FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity-335-5511,5301,1752,56114,14519,12313,85410,9018,6506,837
Redeemable equityn/a1,1770.0n/an/an/an/an/an/an/an/a
Debtn/an/an/a0.00.00.00.00.00.05903,549
Operating lease liabilitiesn/an/an/a93.797.010692.0643671653630
Finance lease liabilitiesn/an/an/a38.711059991257539.020.00.0
Other liabilitiesn/a4594322824,5699,8195,7313,3542,5312,4252,452
Total liabilities and equityn/a1,0841,9621,5897,33724,66925,85818,42614,14212,33813,468
Owned
Fixed assetsn/a139212n/an/an/an/an/an/an/an/a
Goodwilln/an/an/an/an/an/a0.052.052.052.052.0
Intangible assetsn/an/an/an/an/an/a0.044.040.045.0102
Investmentsn/a7671,0361,0272,62310,72215,01510,3747,5925,5406,781
Cash and equivalents50.11356582362,6246,8483,2052,9071,9272,5951,195
Receivablesn/a11.911.75.41,3913,1751,3858923581841,367
Inventoryn/an/an/a0.047.01,441949202117153313
Other assetsn/a31.744.13216532,4835,3043,9554,0563,7693,658
Total assetsn/a1,0841,9621,5897,33724,66925,85818,42614,14212,33813,468
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compoundedn/a19.3%-53.4%13.1%
Profit growth, compoundedn/an/an/an/a
Return on equity, averagen/a6.1%-33.1%-32.6%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Moderna's revenue in fiscal 2025?

Moderna (MRNA) reported revenue of $1.9 billion for fiscal 2025, the year ended 31 December 2025, down 39.9% on the year before.

How much did Moderna earn in fiscal 2025?

Net loss was $2.8 billion for fiscal 2025, and the diluted loss per share $7.26.

What is Moderna's market cap?

The market cap of Moderna was $102.7 billion at the close of 6 November 2026.

How much debt does Moderna have?

At 30 September 2026 Moderna carried $3.5 billion of debt and $1.2 billion of cash.

Peers: Pharmaceutical Products

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Amgen Inc. AMGN$249.0 billion26.7065.4%32.4%8.2%3.762.2%
Gilead Sciences, Inc. GILD$207.1 billionn/a-29.6%-7.6%6.5%2.011.9%
Moderna, Inc. MRNA$102.7 billionn/a-40.8%-116.0%13.1%0.52n/a
argenx SE ARGX *$57.4 billion47.4317.6%n/a89.9%0.00n/a
Biogen Inc. BIIB$36.7 billion106.201.8%4.3%2.3%0.41n/a
BioNTech SE BNTX *$22.0 billionn/a-5.9%-49.0%4.3%0.01n/a
Exelixis, Inc. EXEL$17.0 billion20.8348.3%40.2%9.1%0.00n/a
Neurocrine Biosciences Inc. NBIX$16.7 billion24.4318.1%24.0%38.0%0.00n/a
Halozyme Therapeutics, Inc. HALO$11.8 billion26.38n/a37.4%45.0%n/an/a
Bio-Techne Corp. TECH$11.4 billion66.787.9%19.6%0.9%0.090.4%
Kymera Therapeutics, Inc. KYMR$11.2 billionn/a-21.6%-396.0%133.8%0.00n/a
Repligen Corp. RGEN$9.8 billionn/a-0.6%2.3%13.8%0.27n/a
All 175 in Pharmaceutical Products
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Eli Lilly & Co. LLY$1.27 trillion43.9868.5%n/a45.5%1.230.5%
Johnson & Johnson JNJ$665.0 billion41.8619.7%n/a7.8%0.551.9%
AbbVie Inc. ABBV$514.8 billion50.13n/a32.2%10.7%n/a2.4%
Merck & Co., Inc. MRK$361.8 billion151.295.5%n/a4.9%1.202.3%
Novartis AG NVS *$310.3 billion22.7530.3%n/a8.4%0.622.5%
AstraZeneca PLC AZN *$289.1 billion28.5121.0%23.4%8.6%0.571.7%
Amgen Inc. AMGN$249.0 billion26.7065.4%32.4%8.2%3.762.2%
Gilead Sciences, Inc. GILD$207.1 billionn/a-29.6%-7.6%6.5%2.011.9%
Abbott Laboratories ABT$190.5 billion41.039.2%13.8%10.0%0.612.3%
Novo Nordisk A/S NVO *$179.9 billion11.7152.8%41.3%6.4%0.674.4%
Pfizer Inc. PFE$167.5 billion41.984.5%n/a1.3%0.705.9%
Vertex Pharmaceuticals Inc. VRTX$138.7 billion35.1919.0%33.2%10.5%0.22n/a
Bristol-Myers Squibb Co. BMY$127.0 billion13.7839.5%22.6%4.2%1.834.1%
Sanofi SNY *$114.7 billion13.2210.9%n/a6.2%0.264.7%
Moderna, Inc. MRNA$102.7 billionn/a-40.8%-116.0%13.1%0.52n/a
GSK plc GSK *$101.0 billion13.5334.9%24.3%4.1%1.083.4%
Regeneron Pharmaceuticals, Inc. REGN$95.5 billion19.9714.4%28.8%18.6%0.060.4%
Takeda Pharmaceutical Company Limited TAK *$66.4 billionn/a-2.1%0.1%-1.7%0.663.1%
argenx SE ARGX *$57.4 billion47.4317.6%n/a89.9%0.00n/a
IDEXX Laboratories Inc. IDXX$53.3 billion45.5863.2%32.3%11.9%0.45n/a
Teva Pharmaceutical Industries Ltd. TEVA$49.7 billion99.096.4%8.3%2.7%2.10n/a
Royalty Pharma plc RPRX$37.5 billion44.276.9%57.1%11.4%0.881.4%
Biogen Inc. BIIB$36.7 billion106.201.8%4.3%2.3%0.41n/a
Genmab A/S GMAB *$34.5 billion34.8916.5%28.6%19.2%0.90n/a
Zoetis Inc. ZTS$32.4 billion13.5175.3%n/a1.0%2.742.6%
Roivant Sciences Ltd. ROIV$28.1 billionn/a-6.3%-7,914.8%-67.6%0.00n/a
Insmed Inc. INSM$25.1 billionn/a-83.4%-37.1%240.0%0.76n/a
United Therapeutics Corp. UTHR$23.8 billion21.2119.6%41.4%1.9%0.00n/a
Viatris Inc. VTRS$22.8 billionn/a-4.4%-0.0%4.3%0.972.4%
BioNTech SE BNTX *$22.0 billionn/a-5.9%-49.0%4.3%0.01n/a
Alnylam Pharmaceuticals, Inc. ALNY$20.9 billion8.1075.6%19.5%56.2%0.28n/a
Exelixis, Inc. EXEL$17.0 billion20.8348.3%40.2%9.1%0.00n/a
Neurocrine Biosciences Inc. NBIX$16.7 billion24.4318.1%24.0%38.0%0.00n/a
Jazz Pharmaceuticals plc JAZZ$15.1 billion79.824.9%9.0%13.5%1.33n/a
Kiniksa Pharmaceuticals International, plc KNSA$14.7 billion72.1615.4%13.8%58.2%0.00n/a
BridgeBio Pharma, Inc. BBIO$14.6 billionn/an/a-38.5%167.3%n/an/a
Elanco Animal Health Inc. ELAN$12.9 billionn/a-2.2%n/a12.1%0.52n/a
Dr. Reddy’s Laboratories Limited RDY *$12.4 billion27.5111.4%15.0%3.2%0.210.6%
Halozyme Therapeutics, Inc. HALO$11.8 billion26.38n/a37.4%45.0%n/an/a
Bio-Techne Corp. TECH$11.4 billion66.787.9%19.6%0.9%0.090.4%
Kymera Therapeutics, Inc. KYMR$11.2 billionn/a-21.6%-396.0%133.8%0.00n/a
Biomarin Pharmaceutical Inc. BMRN$10.8 billionn/a-0.3%3.1%18.1%0.67n/a
Repligen Corp. RGEN$9.8 billionn/a-0.6%2.3%13.8%0.27n/a
Madrigal Pharmaceuticals, Inc. MDGL$9.3 billionn/a-24.8%-10.7%92.8%0.54n/a
TG Therapeutics, Inc. TGTX$9.2 billion21.8273.1%17.1%76.1%1.23n/a
ImmunityBio, Inc. IBRX$9.1 billionn/an/a-151.9%192.9%n/an/a
Krystal Biotech, Inc. KRYS$8.9 billion40.8215.7%48.4%26.0%0.00n/a
Protagonist Therapeutics, Inc. PTGX$8.6 billion27.9731.5%58.6%163.7%0.00n/a
Arrowhead Pharmaceuticals, Inc. ARWR$8.2 billionn/a-68.7%-33.8%16.8%1.86n/a
Corcept Therapeutics Inc. CORT$8.0 billion57.2419.5%11.5%30.0%0.00n/a
Rhythm Pharmaceuticals, Inc. RYTM$7.8 billionn/a-220.3%-66.7%61.0%1.17n/a
Alkermes plc. ALKS$7.7 billionn/a-0.0%3.7%15.3%0.81n/a
Twist Bioscience Corp. TWST$7.6 billionn/a-30.7%-33.6%19.2%0.03n/a
Cytokinetics Inc. CYTK$7.5 billionn/an/a-625.2%29.9%n/an/a
Axsome Therapeutics, Inc. AXSM$7.0 billionn/a-149.2%-17.5%54.2%1.78n/a
CG Oncology, Inc. CGON$6.8 billionn/a-24.0%-4,293.5%183.6%0.00n/a
Lantheus Holdings, Inc. LNTH$6.6 billion24.7819.9%18.6%2.4%0.42n/a
Ionis Pharmaceuticals Inc. IONS$6.5 billionn/a-128.5%-68.0%-7.4%3.01n/a
Amneal Pharmaceuticals, Inc. AMRX$6.4 billion41.10476.5%14.6%9.3%80.86n/a
Ligand Pharmaceuticals Inc. LGND$6.1 billion136.655.4%9.5%1.0%1.17n/a
Mirum Pharmaceuticals, Inc. MIRM$6.1 billionn/an/a-133.6%42.2%n/an/a
Scholar Rock Holding Corp. SRRK$5.7 billionn/an/an/an/a0.77n/a
PTC Therapeutics, Inc. PTCT$5.5 billionn/an/a12.8%-35.1%n/an/a
Crispr Therapeutics AG CRSP$4.9 billionn/a-27.7%-2,114.8%-34.3%0.36n/a
Gossamer Bio, Inc. GOSS$4.8 billionn/an/a-311.7%32.4%n/an/a
Travere Therapeutics, Inc. TVTX$4.7 billionn/a-538.0%-20.5%49.4%26.72n/a
Adaptive Biotechnologies Corp. ADPT$4.5 billionn/a-40.0%-16.2%17.9%1.90n/a
Relay Therapeutics, Inc. RLAY$4.1 billionn/a-35.9%-3,094.9%23.9%0.00n/a
Liquidia Corp. LQDA$4.0 billion32.3971.0%37.4%2,233.6%n/an/a
Xenon Pharmaceuticals Inc. XENE$3.8 billionn/a-32.9%n/an/a0.00n/a
Iovance Biotherapeutics, Inc. IOVA$3.7 billionn/a-27.1%-60.8%51.3%0.00n/a
Acadia Pharmaceuticals Inc. ACAD$3.7 billion10.0626.1%10.2%14.8%0.00n/a
AbCellera Biologics Inc. ABCL$3.6 billionn/a-18.4%-340.2%101.3%0.00n/a
Organon & Co. OGN$3.6 billion18.2217.9%n/a-3.2%7.170.6%
Tango Therapeutics, Inc. TNGX$3.6 billionn/a-12.1%-253.4%121.5%0.00n/a
Viking Therapeutics, Inc. VKTX$3.4 billionn/a-106.6%n/an/a0.43n/a
Tarsus Pharmaceuticals, Inc. TARS$3.4 billionn/a-675.0%-102.0%86.3%0.700.0%
Supernus, Inc. INDV$3.3 billion7.88n/a40.6%16.4%n/an/a
DBV Technologies S.A. DBVT$3.3 billionn/a-139.5%-5,420.1%-31.5%0.00n/a
Viridian Therapeutics, Inc. VRDN$3.2 billionn/a-78.1%-1,781.4%-62.8%0.63n/a
Arcutis Biotherapeutics, Inc. ARQT$3.2 billion121.6412.3%6.9%60.0%0.45n/a
Denali Therapeutics Inc. DNLI$3.2 billionn/an/an/an/a0.00n/a
Supernus, Inc. SUPN$3.1 billion9.62n/a45.5%16.2%n/an/a
Bausch Health Companies Inc. BHC$3.1 billionn/an/a11.2%10.8%n/an/a
Ideaya Biosciences, Inc. IDYA$3.0 billionn/an/an/an/a0.00n/a
Adma Biologics, Inc. ADMA$2.8 billion16.5241.6%46.5%6.3%0.45n/a
Silence Therapeutics plc SLN$2.8 billionn/a-155.8%-11,106.8%-97.7%0.00n/a
Vericel Corp. VCEL$2.8 billion85.298.7%8.3%25.3%0.00n/a
Xeris Biopharma Holdings, Inc. XERS$2.8 billionn/a-13.3%12.7%38.4%3.89n/a
Beam Therapeutics Inc. BEAM$2.7 billionn/a-11.2%-267.7%163.3%0.11n/a
Xencor Inc. XNCR$2.7 billionn/a-21.0%-72.7%33.5%0.17n/a
Neogen Corp. NEOG$2.6 billionn/a-2.7%-0.8%-0.3%0.37n/a
Celldex Therapeutics, Inc. CLDX$2.3 billionn/a-47.6%-213,033.8%-94.0%0.00n/a
Arcus Biosciences, Inc. RCUS$2.3 billionn/a-126.5%-475.0%-58.3%0.28n/a
NewAmsterdam Pharma Co. N.V. NAMS$2.3 billionn/a-32.5%-900.1%-26.4%0.00n/a
Schrodinger, Inc. SDGR$2.2 billionn/a-19.6%-49.6%4.8%0.00n/a
Septerna, Inc. SEPN$2.2 billionn/a-6.3%-44.0%13,520.1%0.00n/a
Aurinia Pharmaceuticals Inc. AUPH$2.2 billion7.1947.8%48.6%21.0%0.00n/a
Perrigo Co. plc PRGO$2.2 billionn/a-72.5%-39.4%-4.5%1.357.3%
Immunome Inc. IMNM$2.1 billionn/a-48.4%n/an/a0.00n/a
Zymeworks Inc. ZYME$2.1 billionn/a-186.6%-419.0%-69.8%0.00n/a
Vir Biotechnology, Inc. VIR$2.1 billionn/a-20.6%-69.8%1,696.0%0.00n/a
Prestige Consumer Healthcare Inc. PBH$2.0 billion13.268.0%25.0%5.1%1.07n/a
Recursion Pharmaceuticals, Inc. RXRX$2.0 billionn/a-52.5%-725.4%56.2%0.01n/a
Trulieve Cannabis Corp. TRLV$2.0 billionn/a-57.8%-25.6%-9.1%0.37n/a
Biocryst Pharmaceuticals Inc. BCRX$2.0 billionn/an/a-30.1%60.3%n/an/a
Harmony Biosciences Holdings, Inc. HRMY$1.9 billion10.9616.7%22.2%19.8%0.14n/a
Zenas BioPharma, Inc. ZBIO$1.9 billionn/an/an/an/a1.41n/a
Sarepta Therapeutics, Inc. SRPT$1.9 billionn/a-7.5%-2.5%-18.9%0.56n/a
Maze Therapeutics, Inc. MAZE$1.9 billionn/an/an/an/a0.09n/a
Novavax Inc. NVAX$1.8 billionn/an/a-21.2%-61.3%n/an/a
Agios Pharmaceuticals, Inc. AGIO$1.8 billionn/a-38.1%-297.7%214.4%0.00n/a
Stoke Therapeutics, Inc. STOK$1.7 billionn/a-69.0%-913.1%-86.3%0.00n/a
Generate Biomedicines, Inc. GENB$1.7 billionn/an/an/an/a0.00n/a
Nurix Therapeutics, Inc. NRIX$1.7 billion6.6130.5%41.3%738.8%0.000.0%
Eton Pharmaceuticals, Inc. ETON$1.6 billion37.1357.4%28.8%100.6%0.27n/a
Immunocore Holdings plc IMCR$1.6 billionn/a-7.7%-6.8%13.1%0.940.0%
Precigen, Inc. PGEN$1.6 billion128.0629.1%21.4%n/a1.12n/a
Intellia Therapeutics, Inc. NTLA$1.6 billionn/a-69.5%-821.2%-8.1%0.12n/a
Ultragenyx Pharmaceutical Inc. RARE$1.6 billionn/an/a-64.0%15.8%n/an/a
uniQure N.V. QURE$1.5 billionn/a-79.0%-1,001.7%28.0%0.17n/a
ANI Pharmaceuticals Inc. ANIP$1.5 billion13.2818.3%16.0%25.9%0.95n/a
Pacira BioSciences, Inc. PCRX$1.5 billion39.175.3%4.8%3.7%0.41n/a
Ocular Therapeutix, Inc. OCUL$1.4 billionn/a-58.0%-603.0%-8.1%0.14n/a
Nuvation Bio Inc. NUVB$1.4 billionn/a-59.6%-61.2%654.2%1.25n/a
Korsana Biosciences, Inc. KRSA$1.4 billionn/an/an/an/a0.00n/a
Taysha Gene Therapies, Inc. TSHA$1.4 billionn/a-38.6%-2,792.3%-32.3%0.13n/a
Innoviva, Inc. INVA$1.4 billion9.6017.0%38.8%12.8%0.23n/a
Phibro Animal Health Corp. PAHC$1.3 billion13.1824.6%12.5%10.1%1.761.5%
Cronos Group Inc. CRON$1.3 billion21.295.4%3.4%55.8%0.00n/a
Avalyn Pharma Inc. AVLN$1.3 billionn/an/an/an/a0.04n/a
Opko Health, Inc. OPK$1.3 billionn/a-13.3%-25.5%-21.9%0.43n/a
Mannkind Corp. MNKD$1.3 billionn/an/a-2.9%31.7%n/an/a
Inhibrx Biosciences, Inc. INBX$1.2 billionn/an/an/an/an/an/a
Omeros Corp. OMER$1.2 billionn/an/an/an/an/an/a
Amphastar Pharmaceuticals, Inc. AMPH$1.2 billion13.0112.1%18.7%3.1%0.75n/a
UroGen Pharma Ltd. URGN$1.2 billionn/an/a-12.4%159.3%n/an/a
Rapport Therapeutics, Inc. RAPP$1.2 billionn/an/an/an/a0.00n/a
Janux Therapeutics, Inc. JANX$1.1 billionn/a-11.0%-599.3%132.9%0.00n/a
Harrow, Inc. HROW$1.0 billionn/a-244.9%-1.0%21.1%19.24n/a
Cryoport, Inc. CYRX$969 millionn/a-7.8%-20.0%1.1%0.39n/a
Odyssey Therapeutics, Inc. ODTX$921 millionn/an/an/an/a0.00n/a
Monte Rosa Therapeutics, Inc. GLUE$901 millionn/a-26.4%-214.5%-61.3%0.00n/a
Syndax Pharmaceuticals Inc. SNDX$857 millionn/an/a-61.7%159.5%n/an/a
MeiraGTx Holdings plc MGTX$847 million12.6636.6%46.3%948.3%0.46n/a
Aktis Oncology, Inc. AKTS$847 millionn/an/an/an/a0.00n/a
Verastem, Inc. VSTM$794 millionn/an/an/an/a11.82n/a
Lexicon Pharmaceuticals, Inc. LXRX$791 millionn/a-38.1%-147.4%-45.6%0.32n/a
Nektar Therapeutics NKTR$759 millionn/a-17.4%-257.8%-27.2%0.00n/a
Collegium Pharmaceutical, Inc. COLL$752 million24.2012.9%15.2%7.7%3.65n/a
Rigel Pharmaceuticals Inc. RIGL$746 million2.5569.0%26.3%2.2%0.02n/a
QuidelOrtho Corp. QDEL$732 millionn/a-20.6%-4.9%-4.5%1.64n/a
Ironwood Pharmaceuticals Inc. IRWD$728 million4.89n/a62.9%18.1%n/an/a
Ardelyx, Inc. ARDX$722 millionn/a-33.8%-7.7%17.6%1.54n/a
Arbutus Biopharma Corp. ABUS$721 million4.6259.2%82.0%1,078.8%0.00n/a
Ginkgo Bioworks Holdings, Inc. DNA$718 millionn/a-69.2%-259.9%-51.5%0.00n/a
Zevra Therapeutics, Inc. ZVRA$690 million9.6032.7%60.8%75.1%0.00n/a
Wave Life Sciences, Inc. WVE$665 millionn/a-52.4%-320.9%n/a0.00n/a
Design Therapeutics, Inc. DSGN$651 millionn/a-36.6%n/an/a0.00n/a
Kura Oncology, Inc. KURA$645 millionn/a-612.8%-411.9%n/a0.20n/a
Geron Corp. GERN$636 millionn/an/an/an/a0.53n/a
Aclaris Therapeutics, Inc. ACRS$588 millionn/a-47.7%-1,414.0%-59.3%0.00n/a
Myriad Genetics Inc. MYGN$565 millionn/a-48.0%-14.3%-2.6%0.45n/a
Gyre Therapeutics, Inc. GYRE$510 millionn/a-37.5%-20.6%13.5%0.00n/a
Monopar Therapeutics MNPR$479 millionn/an/an/an/a0.00n/a
CytomX Therapeutics, Inc. CTMX$476 millionn/a-30.0%-676.5%-87.7%0.00n/a
Aquestive Therapeutics, Inc. AQST$454 millionn/an/a-114.1%12.5%n/an/a
Evolus, Inc. EOLS$450 millionn/an/a-4.8%13.9%n/an/a
Phathom Pharmaceuticals, Inc. PHAT$425 millionn/an/a-9.3%86.8%n/an/a
Puma Biotechnology, Inc. PBYI$421 million15.8519.3%13.2%-2.9%0.00n/a
Arvinas, Inc. ARVN$419 millionn/a-1.8%-12.1%-11.8%0.00n/a
CorMedix Inc. CRMD$412 million2.4840.6%47.0%n/a0.00n/a
Crescent Biopharma, Inc. CBIO$374 millionn/an/an/an/a0.00n/a
Canopy Growth Corp. CGC$276 millionn/an/a-54.2%10.7%0.38n/a
Atrium Therapeutics, Inc. RNA$143 millionn/an/an/an/an/an/a
38 companies share its SEC industry code (Biological Products, (No Diagnostic Substances)); the rest are the names nearest in size in its wider industry, Pharmaceutical Products, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

The public record on MRNA

Dividendsno dividend in its filings for fiscal 2016 onward
Filings23 in twelve months: 15 current reports (8-K), about 6 regulation FD disclosure; 5 results of operations; 3 material agreement; 2 officer or director change; 2 new financial obligation
Planned insider sales19 Form 144 notices in twelve months, $85.6 million; latest 15 October 2026
Options tapeput/call 1.71 by open interest at the 6 November 2026 close; the straddle prices a 11.7% move to 13 November 2026
13F holders789 funds reported a position for the quarter to 30 June 2026; largest FMR LLC
Insider trading22 sales and 0 purchases on Form 4 in twelve months
Congress3 House trades disclosed in six months
Short interest32.6 million shares short, 1.78 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 5 earnings press releases, each linked

Filings

FilingPeriodFiledWhere
10-Q30 September 20266 November 2026EDGAR
10-Q30 June 202631 July 2026EDGAR
10-Q31 March 20261 May 2026EDGAR
10-K31 December 202520 February 2026EDGAR
10-Q30 September 20256 November 2025EDGAR
10-Q30 June 20251 August 2025EDGAR
10-Q31 March 20251 May 2025EDGAR
10-K31 December 202421 February 2025EDGAR
10-Q30 September 20247 November 2024EDGAR
10-Q30 June 20241 August 2024EDGAR

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