MRNA · 10-Q · 2026Q3 · Full report

Litigation Settlement Exposure

Moderna, Inc. · 2026-11-06 · Importance 71 · Surprise 60

In March 2026, Moderna agreed to settle worldwide Arbutus/Genevant litigation concerning Spikevax and mRESVIA, also obtaining certainty for its infectious-disease portfolio, including mNEXSPIKE, mCOMBRIAX, and mFLUSIVA, with no future royalties owed. Moderna paid a lump sum in July 2026 and recorded $884 million in cost of sales during the first half of 2026, including amounts attributed to a license intangible asset. The intangible asset is amortized over an estimated three-year useful life, and related settlement royalty expense was $6 million for the third quarter and $890 million for the first nine months of 2026. Moderna appealed the District Court decision related to 28 U.S.C. § 1498 and could owe an additional payment of up to $1.3 billion; no accrual was recorded because a loss was not considered probable.