Moderna is in discussions with a large pharmaceutical company about a potential acquisition or partnership, according to a report published on October 30, 2025.
The talks are described as a "deal of significant scope," indicating that the parties are exploring a substantial transaction that could provide additional capital, broaden Moderna’s pipeline, and accelerate commercialization of its mRNA platform.
Moderna has been transitioning from a COVID‑centric business to a diversified biotechnology company, focusing on oncology, rare diseases, and other infectious diseases. The company reported Q2 2025 revenue of $142 million, a 41% decline from $241 million in Q2 2024, and a net loss of $0.8 billion, an improvement from a $1.3 billion loss in Q2 2024.
The company’s gross margin was 52.14% and operating margin was –107.14% in Q2 2025, reflecting ongoing investments in R&D and a decline in COVID‑19 vaccine sales. Moderna’s cash position ended Q2 2025 at $7.5 billion.
Management has emphasized cost‑cutting measures, workforce reductions, and a focus on pipeline advancement. CEO Stéphane Bancel highlighted the need for financial discipline, while CFO Jamey Mock noted the balance between completing the respiratory portfolio and investing in late‑stage pipeline candidates.
The potential deal could provide a strategic exit or partnership path for investors, offering capital to support the launch of up to 10 new products by 2028 and a market exceeding $30 billion.
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