MRNA at a glance
Moderna (MRNA, SEC CIK 1682852) filed its latest 10-K annual report on February 20, 2026, a 10-Q quarterly report on July 31, 2026, an 8-K current report on September 30, 2026 and Form 4 insider filings as recently as September 16, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), Moderna (MRNA) reported revenue of $1.9 billion (down 39.9% from FY2024) and a net loss of $2.8 billion. Diluted EPS was -$7.26.
- As of June 30, 2026, 39 institutional investment managers tracked by SignalX reported holding Moderna (MRNA) shares worth $13.0 billion in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by Hoge Stephen on September 15, 2026 of 40,281 shares at $146.07 per share.
- In the last 90 days, MRNA insiders reported 0 open-market purchases ($0) and 10 open-market sales ($49.2M) on Form 4, a net sale of $49.2M.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $1.9B
- −39.9% vs prior year
- Insiders · 90 days
- 0 buys · 10 sells
- Net −$49.2M
- 13F holders
- 39 funds
- $13.0B · +0 vs prior quarter
- Latest 8-K
- Sep 30, 2026
- Item 7.01 · Item 5.02
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business: Development and commercialization of mRNA-based vaccines and therapeutics across infectious diseases, oncology, and rare diseases
- New product: Launch of mNEXSPIKE COVID vaccine in Q3 2025, now leading US retail product; ongoing filings for flu+COVID and flu-only vaccines in multiple regions
- Strategic shift: Geographic expansion with three new Moderna-managed manufacturing sites in UK, Canada, Australia; partnership with Recordati for rare disease mRNA-3927 development
- Quantitative metric: 2025 revenue $1.9B, primarily from COVID vaccines; eight Phase 2/3 oncology trials on intismeran autogene in collaboration with Merck underway
- Noteworthy fact: First FDA acceptance of amended BLA for seasonal flu vaccine (mRNA-1010) with PDUFA date August 5, 2026, after Type A meeting and revised regulatory pathway
Risk Factors
- Regulatory risk: FDA refusal-to-file letter on seasonal flu vaccine mRNA-1010; amended BLA accepted with PDUFA date August 5, 2026
- Geopolitical risk: COVID and RSV vaccine manufacturing now onshored in US, Australia, UK, and Canada under government agreements for local supply and pandemic preparedness
- Operational risk: mRNA-1010 flu vaccine regulatory review delays following FDA Type A meeting and need for additional study in older adults
- Competitive risk: Collaboration with Merck on intismeran autogene (mRNA-4157) immunotherapy facing competition from other checkpoint inhibitors like KEYTRUDA
- Financial risk: $1.5 billion five-year credit facility entered November 2025, including $600 million funded initial term loan, adding leverage and interest expense burden
Management Discussion & Analysis
- Revenue $1.944B, down 40% YoY ($3.236B in 2024); net product sales $1.818B, down 42% YoY ($3.109B in 2024) due to lower COVID vaccine demand
- Operating loss $3.074B vs $3.945B; cost of sales $868M (48% of net product sales) vs $1.464B (47%); R&D $3.132B down 31%, SG&A $1.018B down 13%
- Best segment: Other revenue stable at $126M; worst segment: Net product sales down $1.29B driven by COVID vaccine decline
- Net cash used in operations $1.873B (improved from $3.004B); capex $192M; financing proceeds $593M including $578M credit facility draw; cash & investments $8.135B down 15%
- Management expects product sales growth in 2026 from strategic partnerships and mNEXSPIKE uptake; anticipates modest R&D reductions and stable SG&A; identifies COVID market decline as ongoing risk
AI summary of the MRNA 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Risk Factors
- No risk-factors section provided; supplied text covers equity repurchases, insider trading arrangements, exhibits, and signatures
- Compliance risk: executive Rule 10b5-1 plans authorize potential sales through September 17, 2027
- Governance risk: Bancel plan covers exercise of options totaling 1,393,916 shares before February 26, 2027
- Financial risk: $1.7 billion remains available under the share-repurchase authorization with no expiration date
AI summary of the MRNA 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item EX-99.1: Item EX-99.1
- New COO role signals operational scaling for oncology expansion and five-vaccine infectious-disease franchise
- Juan Andres returns October 5, 2026, leading manufacturing and execution across the Company
Item 7.01: Regulation FD Disclosure
- Andres appointed Chief Operating Officer, signaling a leadership change in Moderna’s operational organization
- Press release furnished as Exhibit 99.1, with appointment details available there
Item 5.02: Departure/Appointment of Directors or Principal Officers
- Juan Andres appointed COO effective October 5, 2026, reporting to CEO Stephane Bancel and joining the Executive Committee
- Newly created role addresses Moderna’s increasing scale and diversification
Item 1.01: Entry into a Material Definitive Agreement
- Convertible notes privately placed under Rule 144A, limiting resale to qualified institutional buyers
- Initial conversion rate implies potential issuance of 14,246,100 common shares
Item 8.01: Other Events
- Moderna announced a proposed offering on August 27, 2026, followed by pricing of the Notes on August 28, 2026
- Debt issuance creates financing obligations and potential interest expense, with terms detailed in Exhibits 99.1 and 99.2
Item EX-99.1: Item EX-99.1
- Proposed $2.0B convertible senior notes due 2032, with initial purchasers’ option for an additional $300M
- Zero regular interest and no principal accretion, limiting near-term cash interest expense
Item 2.02: Results of Operations and Financial Condition
- Moderna released financial results for Q2 2026, ended June 30, 2026
- Press release furnished as Exhibit 99.1, containing the detailed results
Item EX-99.1: Item EX-99.1
- Q2 revenue $145M, up from $142M, while net loss improved 5% to $782M and EPS to $(1.97)
- 2026 revenue target remains up to 10% growth, with approximately 55% of second-half revenue expected in Q3
AI summaries of MRNA 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for MRNA
Don't miss the next MRNA filing
- Alerts as it files. A push when MRNA files an 8-K or an insider trades.
- Fund moves. Which tracked funds opened, added or cut MRNA, by share count.
- Ask anything. An AI agent that reads every MRNA filing and answers with sources.
MRNA alerts on your phone. Follow it in the SignalX Android app.
Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Hoge Stephen | M | Sep 15, 2026 | 76,452 | $12.21 |
| Hoge Stephen | Sell | Sep 15, 2026 | 40,281 | $146.07 |
| Hoge Stephen | M | Sep 15, 2026 | 76,452 | - |
| Hoge Stephen | M | Sep 14, 2026 | 76,453 | $12.21 |
| Hoge Stephen | Sell | Sep 14, 2026 | 40,294 | $144.13 |
| Hoge Stephen | M | Sep 14, 2026 | 76,453 | - |
| Mock James M | Sell | Sep 10, 2026 | 19,836 | $134.49 |
| Mock James M | M | Sep 10, 2026 | 19,836 | $30.96 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $3.2B | $1.9B |
| Operating Income | - | -$3.9B | -$3.1B |
| Net Income | -$4.7B | -$3.6B | -$2.8B |
| Op. Margin | - | -121.9% | -158.1% |
| Net Margin | - | -110.0% | -145.2% |
| Balance Sheet | |||
| Total Assets | - | $14.1B | $12.3B |
| Equity | $13.9B | $10.9B | $8.7B |
| ROE | -34.0% | -32.7% | -32.6% |
| Per Share | |||
| EPS | $-12.33 | $-9.28 | $-7.26 |
| Cash Flow | |||
| Operating CF | - | -$3.0B | -$1.9B |
| CapEx | $707.0M | $1.1B | $192.0M |
Source: XBRL data in Moderna (MRNA)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate MRNA share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 39 | $13.04B |
| Q1 2026 | 39 | $8.92B |
| Q4 2025 | 35 | $5.70B |
| Q3 2025 | 34 | $4.53B |
| Q2 2025 | 34 | $4.83B |
| Q1 2025 | 33 | $3.81B |
| Q4 2024 | 29 | $4.49B |
| Q3 2024 | 26 | $2.57B |
- FMR LLC (Fidelity)+6.19M (+14%)
- T. Rowe Price Group+4.85M (+657%)
- Morgan Stanley+1.07M (+13%)
- Invesco Ltd+995.5K (+21%)
- BlackRock+963.5K (+3%)
- Goldman Sachs Group−1.93M (-29%)
- Two Sigma Investments−1.89M (-21%)
- D.E. Shaw & Co−641.6K (-96%)
- Millennium Management−580.6K (-57%)
- JPMorgan Chase & Co−480.1K (-36%)
Source: 13F-HR filings on SEC EDGAR (aggregated from 269 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
MRNA filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 8-K | Sep 30, 2026 | - | Analysis | - |
| 4 | Sep 16, 2026 | - | - | - |
| 4 | Sep 14, 2026 | - | - | - |
| 4 | Sep 8, 2026 | - | - | - |
| 4 | Sep 8, 2026 | - | - | - |
| 4 | Sep 3, 2026 | - | - | - |
| 4 | Sep 3, 2026 | - | - | - |
| 4 | Sep 3, 2026 | - | - | - |
| 8-K | Sep 1, 2026 | - | Analysis | - |
| 4 | Aug 31, 2026 | - | - | - |
| 4 | Aug 31, 2026 | - | - | - |
| 4 | Aug 31, 2026 | - | - | - |
| SC 13G | Aug 12, 2026 | - | - | |
| 4 | Aug 7, 2026 | - | - | - |
| 8-K | Jul 31, 2026 | - | Analysis | - |
| 10-Q | Jul 31, 2026 | Jun 30, 2026 | Analysis | |
| 4 | Jul 16, 2026 | - | - | - |
| 4 | Jul 10, 2026 | - | - | - |
| 8-K | Jul 8, 2026 | - | Analysis | - |
| 4 | Jul 7, 2026 | - | - | - |
| 4 | Jul 6, 2026 | - | - | - |
| 4 | Jun 17, 2026 | - | - | - |
| 4 | Jun 8, 2026 | - | - | |
| 4 | Jun 8, 2026 | - | - | |
| 4 | Jun 3, 2026 | - | - |
Related Health Care companies
- FDMT · 4D Molecular Therapeutics, Inc.Biological Products, (No Diagnostic Substances)
- ADPT · Adaptive Biotechnologies CorpBiological Products, (No Diagnostic Substances)
- ADMA · ADMA BIOLOGICS, INC.Biological Products, (No Diagnostic Substances)
- ALEC · Alector, Inc.Biological Products, (No Diagnostic Substances)
- ALLO · Allogene Therapeutics, Inc.Biological Products, (No Diagnostic Substances)
- AMGN · AmgenBiological Products, (No Diagnostic Substances)
- AVXL · ANAVEX LIFE SCIENCES CORP.Biological Products, (No Diagnostic Substances)
- APGE · Apogee Therapeutics, Inc.Biological Products, (No Diagnostic Substances)
MRNA SEC filings: frequently asked questions
Are MRNA insiders buying or selling?
In the last 90 days, Moderna (MRNA) officers, directors and 10% owners reported no open-market purchases and 10 open-market sales worth $49.2 million by 4 insiders on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold MRNA stock?
As of June 30, 2026, the largest Moderna (MRNA) holders among the 13F filers tracked by SignalX were FMR LLC (Fidelity) ($3.6 billion), BlackRock ($2.1 billion), Vanguard Capital Management LLC ($1.6 billion), State Street Corp ($1.1 billion), Vanguard Portfolio Management LLC ($1.1 billion). 13F-HR reports are filed up to 45 days after each quarter ends.
What was MRNA's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), Moderna (MRNA) reported revenue of $1.9 billion (down 39.9% from FY2024) and a net loss of $2.8 billion. Diluted EPS was -$7.26. The figures come from the XBRL data in the 10-K.
What are the main risks in MRNA's latest 10-K?
In the 10-K filed February 20, 2026, Moderna (MRNA) flagged: Regulatory risk: FDA refusal-to-file letter on seasonal flu vaccine mRNA-1010; amended BLA accepted with PDUFA date August 5, 2026. Geopolitical risk: COVID and RSV vaccine manufacturing now onshored in US, Australia, UK, and Canada under government agreements for local supply and pandemic preparedness. (AI summary of the Risk Factors section.)
What did MRNA report in its latest 8-K?
Moderna (MRNA) filed an 8-K on September 30, 2026 reporting Item 7.01 (Regulation FD Disclosure) and Item 5.02 (Departure/Appointment of Directors or Principal Officers). New COO role signals operational scaling for oncology expansion and five-vaccine infectious-disease franchise.
What are the latest MRNA SEC filings?
Moderna (MRNA) filed its latest 10-K annual report on February 20, 2026, a 10-Q quarterly report on July 31, 2026, an 8-K current report on September 30, 2026 and a Form 4 insider filing on September 16, 2026.
What is MRNA's SEC CIK number?
Moderna (MRNA)'s SEC Central Index Key (CIK) is 1682852. EDGAR lists every MRNA filing under that number.
Ask anything about MRNA
The research agent reads MRNA's filings, financials, insider trades and 13F holders, then answers with sources.