Moderna (MRNA) Q4 FY25 earnings call

Moderna delivered Q4 FY25 results at the high end of revenue guidance, driven by strong mNEXSPIKE uptake and significant cost reductions across the organization. Despite a U.S. FDA Refusal-to-File for its flu vaccine, the company is advancing its late-stage pipeline, including oncology and rare disease programs, and expects a return to revenue growth in 2026, primarily from international markets and mNEXSPIKE.