Biotechnology
Moderna (MRNA) reported Q2 FY2026 revenue of $145M (+2.1% YoY) and narrowed its net loss to -$782M, supported by a 21.8% decline in cost of revenue and lower R&D expenses.
Key risk: Continued High Operational Cash Burn
Moderna posted year-to-date operating cash flow of -$1.16B in Q2 FY2026. Ongoing cash outflow could deplete liquid reserves if commercial revenues fail to scale.
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