Moderna expects to improve vaccine profitability, sees $9B liquidity by year-end

Moderna said it expects to improve profitability in its infectious disease vaccine business, helped by revenue growth, lower development spending, and manufacturing efficiency. The company also sees ending 2026 with about $9 billion total liquidity. It plans to fund future vaccine investments through franchise growth and deploy balance sheet capital toward intismeran (personalized melanoma vaccine), cancer therapies, rare diseases, and emerging modalities.