Moderna’s Mysterious Exit Sparks Acquisition Frenzy—What’s Really Happening?

The earnings report for Moderna, Inc.’s second quarter of 2025 presents a multifaceted picture of the company’s current financial health and strategic endeavors. Beginning with the financial landscape, Moderna reported revenues of $2.1 billion and experienced a loss of $0.8 billion, which aligns with the company’s expectations given the seasonal nature of its respiratory vaccine business. Notably, the company managed to reduce its cost of sales and SG&A by 35% compared to the previous year, indicating a strong commitment to financial discipline. Additionally, operating expenses were reduced by $581 million year-over-year, a 40% reduction, emphasizing cost-effective measures during a challenging period. In terms of cash reserves, Moderna ended the quarter with $7.5 billion in cash and investments, ensuring liquidity for future investment in research and operational efficiency. However, net product sales saw a decrease, attributed mainly to COVID vaccine sales, which suffered a 38% decline compared to the previous year.