Moderna Has Some Key Approvals Ahead. Is the Stock a Buy?

Moderna's stock has surged over 100% this year as the company diversifies beyond COVID-19 vaccines using its mRNA platform. Key catalysts include FDA approval of mFlusiva (flu vaccine) expected August 5, 2026, and the European Commission's approval of mCOMBRIX (flu-COVID combination vaccine). The company's most transformative opportunity lies in cancer vaccines, with phase 3 data for mRNA-4157 expected later in 2026. Despite 260% revenue growth in Q1 2026, Moderna remains unprofitable but has $7.5 billion in cash and targets company-wide breakeven by 2028.