Milestones
- Spikevax emergency approval18 Dec 2020Complete.
- Spikevax full FDA approval31 Jan 2022Complete.
- FDA approves mRESVIA (RSV)31 May 2024Complete.
- FDA approves mNEXSPIKE31 May 2025Complete.
Most important updates
- 31 May 2024
- 14 Dec 2023
- 30 Dec 2020
- 18 Dec 2020
Physics limits
- Shots in the arm give weak protection in the noseInjected vaccines make blood antibodies but few in the nose and airways, where infection starts. Protection against catching a respiratory virus wanes within months.
- Respiratory viruses keep changing their coatsFlu and coronaviruses mutate their surface proteins quickly, so antibodies to last year's version bind less well. Vaccines chase the virus and need regular updates.
- mRNA is fragilemRNA is easily broken by enzymes and heat, which is why it must be wrapped in fat bubbles and kept cold. The same fragility limits how long it makes protein in the body.
How it works
Code
mRNA as a recipe
The vaccine carries mRNA encoding a viral surface protein, locked in the shape it has before infecting cells.
Deliver
Fat bubbles into muscle cells
Lipid nanoparticles carry the mRNA into cells near the injection site, which read it and display the viral protein for a few days.
Train
The immune system learns
Antibodies and T cells learn the protein; the mRNA itself breaks down within days. New strains need only a new sequence.
Update log
Fri 31 May 2024
- Minor: PressRegulatory
Thu 14 Dec 2023
- Minor: PaperResearch
Wed 30 Dec 2020
- Major: PaperResearch
Fri 18 Dec 2020
- Major: PressRegulatory
About Moderna
Moderna
mRNA vaccines, personal cancer vaccine
US mRNA company whose COVID vaccine Spikevax was one of the first two mRNA products ever cleared. It sells RSV and newer COVID vaccines and, with Merck, is building a personal mRNA cancer vaccine that passed Phase 3 in melanoma in 2026.
- Aug 2026: its cancer vaccine plus Keytruda met Phase 3 goals, cutting melanoma return and spread after surgery.
- Revenue fell sharply after the pandemic, forcing cost cuts while it builds new vaccines and cancer drugs.
- Founded
- 201016 yrs
- Headquarters
- United States
- Status
- Public
- Listed
- MRNA (opens google.com)NASDAQ
- Valuation
- public
- Works in
- BiotechmRNA medicines
- Coverage
- 2 programs · 8 updateslatest 19 Aug 2026checked 25 Sep
- Partners
- Merck & Co. (opens merck.com)