Moderna Inc. reported third quarter 2025 revenue of $1.0 billion, with a GAAP net loss of $0.2 billion and GAAP earnings per share of $(0.51). The company narrowed its projected 2025 revenue range to $1.6-$2.0 billion, reduced expected 2025 GAAP operating expenses to $5.2-$5.4 billion, and increased its expected year-end cash balance to $6.5-$7.0 billion. COVID vaccine sales for the third quarter totaled $971 million, including $781 million in the U.S. and $190 million internationally. The company received FDA approval for its 2025-2026 mNEXSPIKE COVID vaccine for adults aged 65 and older and certain younger individuals with risk factors, with approvals also granted in Canada and filings in other regions. Capital expenditures for 2025 are expected to be approximately $0.3 billion. Moderna also presented Phase 3 data for its seasonal flu vaccine and plans to complete regulatory submissions by January 2026 in several countries.