Moderna

Moderna is a biotechnology company that develops messenger RNA (mRNA) medicines, principally vaccines. It was founded in 2010 in Cambridge, Massachusetts by Flagship Pioneering, traded as Moderna Therapeutics until 2018, and listed on Nasdaq in December 2018 in what was then the largest biotechnology IPO on record. Its COVID-19 vaccine Spikevax, first authorised in December 2020, was followed by mRESVIA for respiratory syncytial virus, approved in the United States in May 2024, and the next-generation COVID-19 vaccine mNEXSPIKE, approved in May 2025. The company reported revenue of $1.9 billion and a GAAP net loss of $2.8 billion for 2025, and employed 4,700 people at 31 December 2025. Alongside its Massachusetts manufacturing sites it operates plants in the United Kingdom, Canada and Australia built under long-term government pandemic-preparedness agreements.