Moderna, Inc.
Close on Nov 2, 2026Market cap $88.16BP/E –Yield –
Moderna Program-specific R&D expenses by therapeutic area
Program-specific R&D expenses by therapeutic area / modality ($M) ($M)
Moderna Program-specific R&D expenses by therapeutic area: $896M in FY2025, down 41.6% from a year earlier.
Where the FY2025 figure comes from
“Total program-specific expenses by therapeutic area (1) | $ | 896 | $ | 1,533 | $ | 2,032”
Source: FY2025 10-K ↗
Reported in Form 10-K / 10-Q Item 7 (MD&A R&D Program Breakdown).
Annual history
Hover a value to see the sentence it was read from; calculated values show their formula
| Period | Ended | Program-specific R&D expenses by therapeutic area / modality ($M) ($M) | Year on year | Source |
|---|---|---|---|---|
| FY2025 | Dec 31, 2025 | 896 | -41.6% | FY2025 10-K ↗ |
| FY2024 | Dec 31, 2024 | 1,533 | -24.6% | FY2025 10-K ↗ |
| FY2023 | Dec 31, 2023 | 2,032 | +32.3% | FY2025 10-K ↗ |
| FY2022 | Dec 31, 2022 | 1,536 | +28.4% | FY2024 10-K ↗ |
| FY2021 | Dec 31, 2021 | 1,196 | +55.7% | FY2023 10-K ↗ |
| FY2020 | Dec 31, 2020 | 768 | +389.2% | FY2022 10-K ↗ |
| FY2019 | Dec 31, 2019 | 157 | +11.6% | FY2021 10-K ↗ |
| FY2018 | Dec 31, 2018 | 141 | – | FY2020 10-K ↗ |
Breakdown
What makes up program-specific R&D expenses by therapeutic area
Cite this data
StockData. (2026). Moderna Program-specific R&D expenses by therapeutic area ($M), annual FY2018–FY2025 [Data set]. Compiled from Moderna SEC filings and investor materials. https://stockdatahq.com/stocks/mrna/kpis/rd-program-specific
See every metric in the Moderna KPI table. Data updated Nov 3, 2026.