Moderna lifts its 2026 revenue-growth outlook to 15-25 percent

At its Nov. 12 analyst day, Moderna said it now expects 2026 revenue growth of 15 to 25 percent, compared with an original outlook of up to 10 percent. The company said it expects about $4 billion of cash costs in 2027 and about $4 billion to $4.5 billion a year from 2027 through 2030, and that it amended a $1.5 billion Ares credit facility, extending maturity to 2031, keeping the remaining $900 million available through 2029, and cutting the drawn rate by 75 basis points. Moderna also said intismeran plus Keytruda cut the risk of recurrence or death by 42 percent versus Keytruda alone in the Phase 3 adjuvant melanoma study.