Moderna, Inc.

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Moderna, Inc. (Nasdaq: MRNA), formerly Moderna Therapeutics, Inc., is a commercial-stage biotechnology company headquartered at 325 Binney Street, Cambridge, Massachusetts. Founded in 2010 and incorporated in Delaware in 2016, it completed an IPO in December 2018. It is publicly traded with no parent company. Headcount is roughly 4,700–5,800 depending on source; FY2025 revenue was approximately $1.94 billion, down from $3.2 billion in 2024 and $6.75 billion in 2023, with a net loss of about $2.8 billion for FY2025.

Operations. Moderna develops messenger RNA (mRNA) therapeutics and vaccines. Commercial products are its COVID-19 vaccine Spikevax (elasomeran), a next-generation COVID vaccine (mNEXSPIKE), and its RSV vaccine mRESVIA. Its clinical pipeline spans infectious disease, oncology (including an mRNA cancer therapy partnered with Merck), cardiovascular disease, and rare genetic diseases; the company reported roughly 35 mRNA development candidates in clinical studies as of August 2025. Its mRNA products rely on lipid nanoparticle (LNP) delivery technology.

Litigation posture. Moderna is primarily an operating company on the receiving end of patent suits, consistent with its case record: 2 tracked defendant cases versus 1 as plaintiff. Both defendant entries are the same dispute — Arbutus Biopharma Corp. and Genevant Sciences (a Roivant Sciences subsidiary) v. Moderna, filed 2022-02-28 in the U.S. District Court for the District of Delaware — a venue with no plaintiff-friendly NPE clustering relevant here. Its sole plaintiff-side appearance is an appeal at the U.S. Court of Appeals for the Federal Circuit (2026-03-24).

Notable context. Arbutus/Genevant alleged that Moderna's SM-102 LNP infringed patents covering nucleic-acid lipid nanoparticles used in Spikevax and later mRESVIA, seeking damages on more than $8.2 billion in U.S. government vaccine sales. On March 3, 2026, days before a scheduled Delaware jury trial, the parties settled globally for up to $2.25 billion: a $950 million upfront payment plus up to $1.3 billion contingent on Moderna's Federal Circuit appeal concerning 28 U.S.C. § 1498 government-contractor immunity — the appeal reflected in the tracked plaintiff case. Moderna also received a non-exclusive global license to the LNP technology for infectious-disease applications with no future royalties. Separately, Moderna has sued Pfizer and BioNTech over mRNA patents, and the PTAB invalidated two Moderna COVID vaccine patents in March 2025.