Moderna stock gains outlook as quarterly profit returns

Moderna reported a stronger third quarter on Friday, November 6, 2026, as revenue increased 29 percent to 1.3 billion US dollars and the biotechnology company returned to profit. Chief Financial Officer Jamey Mock described the result and the improved outlook in Moderna's third-quarter earnings update.

Higher revenue and tighter costs

Moderna said cash costs declined 10 percent to 1.0 billion US dollars in the quarter. The company linked the progress to a smaller manufacturing footprint, portfolio prioritization, procurement savings and wider use of automation and artificial intelligence.

The financial improvement also lifted management's expectations for the full year. Moderna now expects revenue growth of 15 to 25 percent in 2026, compared with its previous outlook of up to 10 percent. Management said this would mark the company's first year of revenue growth since 2022.

The balance-sheet outlook improved as well. Moderna now expects year-end cash and investments of 8.1 billion to 8.3 billion US dollars, compared with its earlier range of 4.7 billion to 5.2 billion US dollars. The company said proceeds from a 3 billion US dollar convertible offering contributed to its greater financial flexibility.

Oncology remains a central growth test

Moderna is using the improved financial position to support a broader portfolio beyond respiratory vaccines. At the European Society for Medical Oncology, the company and Merck presented detailed Phase 3 results from the INTerpath-001 study of intismeran with pembrolizumab in patients with completely resected stage IIB-IV melanoma.

The company also highlighted additional pipeline milestones. The pivotal study of mRNA-3927, an investigational treatment for propionic acidemia, has reached its target enrollment, with data expected by the end of 2026. Initial clinical data for mRNA-2808 in multiple myeloma are scheduled for an oral presentation at the American Society of Hematology meeting from December 12 to 15, 2026.

What the outlook means for investors

The revised outlook gives investors a clearer test for Moderna's recovery: vaccine demand and international execution must support growth while cost reductions protect profitability. The oncology pipeline offers a longer-term opportunity, but its contribution depends on clinical progress and regulatory decisions.

Moderna stock traded at 227.85 euros on Lang & Schwarz at 13:23 CET on Wednesday, November 11, 2026.

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