Moderna, Inc.
MRNANasdaqBiological Products, (No Diagnostic Substances)Fiscal year ends December 31
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 31, 2026Score 5/30567% above fair value
$220.83−0.89 (-0.40%)
Close on Nov 2, 2026Market cap $88.16BP/E –Yield –
Moderna Discovery and platform research R&D expenses by Year
Discovery and platform research R&D expenses ($M) ($M)
Moderna Discovery and platform research R&D expenses: $356M in FY2025, down 31.5% from a year earlier.
Latest, FY2025
356
Period ended Dec 31, 2025
Change on a year earlier
-31.5%
520 in FY2024
History
4 years
Since FY2022
Sources
2
Documents cited below
Where the FY2025 figure comes from
“Discovery and platform research | $ | 356 | $ | 520 | $ | 751”
Source: FY2025 10-K ↗
Reported in Form 10-K Item 7 (MD&A R&D Breakdown).
Annual history
Hover a value to see the sentence it was read from; calculated values show their formula
| Period | Ended | Discovery and platform research R&D expenses ($M) ($M) | Year on year | Source |
|---|---|---|---|---|
| FY2025 | Dec 31, 2025 | 356 | -31.5% | FY2025 10-K ↗ |
| FY2024 | Dec 31, 2024 | 520 | -30.8% | FY2025 10-K ↗ |
| FY2023 | Dec 31, 2023 | 751 | +89.2% | FY2025 10-K ↗ |
| FY2022 | Dec 31, 2022 | 397 | – | FY2024 10-K ↗ |
Breakdown
What makes up discovery and platform research R&D expenses
Cite this data
StockData. (2026). Moderna Discovery and platform research R&D expenses ($M), annual FY2022–FY2025 [Data set]. Compiled from Moderna SEC filings and investor materials. https://stockdatahq.com/stocks/mrna/kpis/rd-discovery-platform
See every metric in the Moderna KPI table. Data updated Nov 3, 2026.