MRNA · 10-Q · 2026Q2 · Full report

Licensing / Collaboration Deals

Moderna, Inc. · 2026-07-31 · Importance 52 · Surprise 42 · In source text

In January 2026, Moderna entered into a worldwide exclusive, royalty-bearing license with Recordati S.p.A. for the investigational propionic acidemia therapeutic mRNA-3927. Moderna received an upfront payment in the second quarter of 2026 and is eligible for up to $750 million in development and regulatory milestones, additional commercial and sales milestones, and tiered royalties on net sales. Moderna will lead clinical development through approval, while Recordati will lead global commercialization after approval. Separately, Moderna’s Merck collaboration for intismeran autogene generated net expenses after reimbursements during the three and six months ended June 30, 2026, and Blackstone funding reduced influenza-program research and development expense during the same periods.

Key facts

• For the three and six months ended June 30, 2026 Moderna, Inc. recognized $6 million and $884 million, respectively, of third-party royalties related to the litigation settlement with Arbutus and Genevant included in cost of sales. source
• In June 2026 CEPI committed up to $50 million to support preclinical development and Phase 1 clinical evaluation and parallel manufacturing activities for Moderna, Inc.'s investigational Bundibugyo ebolavirus (BDBV) vaccine candidate. source
• Under the NIAID license agreement Moderna, Inc. is obligated to pay low single-digit royalties on future net sales of licensed products. source
• In January 2025 Moderna, Inc. entered into a non-exclusive patent license agreement with NIAID and upon execution made a total payment of $ million which was capitalized as an intangible asset and is amortized to cost of sales on a straight-line basis over the estimated useful life of the licensed patents. source

Impact estimates