Moderna Q1 2026: $400M Revenue Beats Estimates; EU Approves mNEXSPIKE and mCOMBRIAX

On May 1, 2026, Moderna reported Q1 2026 financial results, beating analyst consensus by approximately $164M: Q1 revenue reached $400M (vs. ~$236M expected), with 80% from international markets. The GAAP net loss was $1.3B, primarily driven by a $950M Arbutus Biopharma litigation settlement charge expected to be paid in Q3 2026, resolving the long-running LNP patent dispute. Moderna reaffirmed 2026 full-year guidance of up to 10% revenue growth. On the regulatory front, the EU approved mNEXSPIKE (mRNA-1283), Moderna's next-generation COVID-19 vaccine requiring only standard refrigeration (2–5°C) rather than ultra-cold storage — a major logistical advance over earlier formulations. The EU also approved mCOMBRIAX, the world's first combination mRNA vaccine encoding both influenza and COVID-19 antigens. A third EU approval for mRESVIA (RSV vaccine, ages 18+) expanded the indication beyond the FDA's 60+ age group. The company also initiated a Phase 3 trial of mRNA-4157/V940 (intismeran autogene) as monotherapy and with KEYTRUDA for adjuvant treatment of high-risk Stage I non-small cell lung cancer, expanding beyond melanoma.