Moderna, Inc. (MRNA) Presents at TD Cowen 46th Annual Health Care Conference Transcript

SA Transcripts158.78K FollowersFollow5ShareSaveComments Moderna, Inc. (MRNA) TD Cowen 46th Annual Health Care Conference March 3, 2026 1:50 PM EST Company Participants James Mock - Chief Financial Officer Conference Call Participants Tyler Van Buren - TD Cowen, Research Division Presentation Tyler Van BurenTD Cowen, Research Division All right. Okay. Good afternoon, everyone.

Tyler Van Buren here, senior biotech analyst at TD Cowen. Thank you very much for joining TD Cowen's 46th Annual Healthcare Conference. For this next session, it's a privilege to be hosting a fireside chat with Moderna management. And from Moderna, it's my pleasure to introduce Jamey Mock, Chief Financial Officer of Moderna. Jamey, so great to have you. Thank you for joining me. James MockChief Financial Officer Thanks for having us, Tyler. Question-and-Answer Session Tyler Van BurenTD Cowen, Research Division So we'll start at a high level before we get into some of the more detailed programs or specific programs. But for the full year 2025 product revenue came in at the high end of the guidance, which I think surprised some given the COVID normalization concerns and macro factors throughout the year and volatility on that front. But maybe you could just talk about what drove the resilience of the COVID franchise and the great result you guys ended the year with? James MockChief Financial Officer Sure. Well, thanks, everybody, for your interest in Moderna. So yes, I would say, obviously, a lot of things going on from a macro perspective. That said, I think the team executed extremely well, number one. And I also think it tells you that there's still plenty of people that want to get vaccinated. So in the U.S., for example, there are over 30 million Americans that got vaccinated against COVID last year. But if I break down and kind