Moderna reported a net loss of $782 million for the second quarter of 2026. Revenue for the period totaled $145 million. This revenue figure remained roughly flat year-over-year.
A patent settlement with Arbutus Biopharma and Genevant Sciences drove the quarterly loss. The litigation involved lipid nanoparticle technology used in Moderna’s COVID-19 vaccine.
Cost of sales rose significantly after the company recognized $884 million in royalties. Moderna issued a $950 million lump-sum payment in July 2026. This payout will be reflected in the third-quarter cash balance. The company ended the second quarter with $6.9 billion in cash and investments.