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Moderna lifts annual revenue forecast on strong COVID vaccine demand overseas

By Reuters News

Nov 6 (Reuters) - Moderna MRNA.O lifted its full-year revenue forecast on Friday, after strong international demand for its COVID-19 vaccine and payments from partnerships helped the biotech swing to profit in the third quarter.

The strong results provide fresh momentum for Moderna's efforts to build a sustainable business through new products, including its newly approved flu vaccine and a personalized cancer vaccine candidate, which investors see as key to the long-term growth of its mRNA platform.

Moderna now expects total revenue to grow 15% to 25% in 2026, above its previous forecast of up to 10% growth.

The US FDA cleared Moderna's flu vaccine, mFlusiva, in August for adults aged 50 and older, marking the first authorization of an mRNA-based seasonal influenza shot.

Moderna said it plans a limited US launch during the 2026-27 flu season because the approval came after flu vaccine contracts for the year were wrapped up.

Moderna and partner Merck MRK.N said last month that their personalized cancer vaccine, intismeran autogene, combined with Merck's blockbuster immunotherapy Keytruda cut the risk of melanoma recurrence or death by 42% in a large trial, potentially paving the way for a new era of cancer treatment.

The companies anticipate commercial launch of the treatment in 2027.

Moderna shares have surged more than eight-fold this year, mostly after announcing the trial success of intismeran autogene in August, making them one of the best performers in the S&P 500 .SPX.

The company reported third-quarter revenue of $1.3 billion, topping analysts' average estimate of $885.1 million, according to data compiled by LSEG.

Moderna earned a net profit of $162 million, compared with a net loss of about $200 million a year earlier.

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