Moderna reported its first quarterly profit in two years, posting $162mn net income for Q3 2026 versus a $200mn loss a year earlier. The Boston‑based biotech credited stronger Covid‑19 vaccine sales outside the U.S., which lifted total revenue 29% to $1.3bn. The turnaround follows August’s landmark melanoma vaccine trial success with partner Merck, a result that sent shares soaring 177% in a single day before retreating in October as commercial expectations softened. CEO Stéphane Bancel said the mRNA platform is “really coming to life” and called it “just the beginning.”
Political headwinds eased after Republican vaccine skeptics, including Iowa gubernatorial candidate Zach Lahn and Health Secretary Robert F. Kennedy Jr., lost in the midterms, removing a potential ban on mRNA vaccines. Investment firm Fidelity tripled its stake since September 2025 to become Moderna’s largest shareholder, while Baillie Gifford cut its holding from 10% to about 4.5%, citing frustration with the company’s direction. Moderna also rejoined the Nasdaq 100 in October after a two‑year absence.
Source: Financial Times Companies · Summarized by HeadlinesBriefing