Moderna Inc. has reported its financial results for the second quarter of 2025, revealing revenues of $0.1 billion and a GAAP net loss of $0.8 billion. The company has revised its 2025 projected revenue range to $1.5 to $2.2 billion, indicating a $300 million reduction at the high end. This adjustment is primarily due to the timing of deliveries, with contracted revenue for the U.K. now expected to shift into the first quarter of 2026. The company's net product sales for the three months ended June 30, 2025, were $114 million, a decrease from $184 million in the same period of 2024. Total revenue for the same period dropped to $142 million from $241 million in the previous year. Operating expenses showed a decline, with total operating expenses for the quarter amounting to $1.049 billion compared to $1.604 billion in the same quarter of the prior year. Moderna has also announced three recent U.S. FDA approvals and positive Phase 3 efficacy results for its seasonal influenza vaccine, which are expected to contribute to future sales growth. The company anticipates a revenue distribution of 40-50% in the third quarter of 2025, with the remainder expected in the fourth quarter. Additionally, the company has improved its expected GAAP operating expenses for 2025 by approximately $400 million, now projected to be between $5.9 to $6.1 billion. Research and development expenses for the full year are anticipated to be $3.6 to $3.8 billion, lowered from previous expectations of $4.1 billion.