MRNA Stock Rises Pre-Market: Moderna Bets On US Comeback With Flu Vaccine Pipeline

• For FY 2026, the company is targeting up to 10% growth over its 2025 revenue.
• Moderna’s Q1 net product sales rose on stronger COVID vaccine demand, driven largely by international markets.
• In February, the U.S. Food and Drug Administration reversed course and agreed to review Moderna’s mRNA flu vaccine after initially rejecting it.

Moderna (MRNA), which came under pressure from the Donald Trump-led administration over the application for its first mRNA-based flu vaccine, is now aiming to tilt its revenue mix more toward the U.S., with a goal of roughly half of total sales coming from the domestic market.

MRNA shares climbed nearly 6% in pre-market trading on Friday, aiming to snap a five-session losing streak, after the pharma company posted a better-than-expected first quarter (Q1) earnings report. 

Q1 revenue came in at $389 million, well above the Street's roughly $235.5 million estimate, according to Fiscal.ai data. Its loss per share was $3.40, compared to consensus estimates of $3.96.

Targets Even Revenue Mix

For FY 2026, the company is targeting up to 10% growth over its 2025 revenue and expects a roughly 50% split between U.S. and international markets. The company’s Q1 revenue mix was heavily skewed toward international markets, with an approximate 20:80 split between domestic and overseas sales.

Moderna’s Q1 net product sales rose on stronger COVID vaccine demand, driven largely by international markets through deliveries tied to long-term government partnership agreements.

However, its journey in the U.S. was anything but smooth sailing in Q1. In February, the U.S. Food and Drug Administration (FDA) reversed course and agreed to review Moderna’s mRNA flu vaccine after initially rejecting it.

However, the initial decision had raised questions about potential shifts in regulatory approach under the Trump administration, including the tightening of vaccine policies. In January, officials moved to scale back full recommendations for about one-third of routine childhood vaccines, including flu shots.

How Did Retail Traders React?

Retail sentiment on Stocktwits turned ‘bearish’ from ‘extremely bearish’ a day earlier, while message volumes remained ‘high.’

However, one user said the stock was still overvalued.

Moderna shares have surged nearly 50% so far in 2026.

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