Moderna, Inc.

Good day, and thank you for standing by. Welcome to Moderna's first quarter 2026 conference call. At this time, all participants are on a listen-only mode. After the speaker's presentation, there'll be a question and answer session. To ask a question during the session, you'll need to press star 1-1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1-1 again. Please be advised, today's conference is being recorded. I would like to hand the conference over to your speaker today, Levina Tulukdar, head of IR. Please go ahead.

Thank you, Kevin. Good morning, everyone, and thank you for joining us today to discuss Moderna's first quarter 2026 financial results and business updates. You can access the press release issued this morning as well as the slides that we'll be reviewing by going to the investor section of our website. On today's call are Stephane Boncel, our chief executive officer, Stephen Hogue, our president, and Jamie Mock, our chief financial officer. Please note that this conference call will include forward-looking statements made pursuant to the Safe Harbor provisions of the Securities Litigation Reform Act of 1995. Please see slide two of the accompanying presentation and our SEC filings for important risk factors that could cause our performance and results to differ materially from those expressed or implied in these forward-looking statements. With that, I will turn the call over to Stéphane.

Thank you, Lavina. Good morning or good afternoon, everyone. Thank you for joining us today. I will start with a review of the first quarter. Jamie will then cover our financial results and outlook, followed by Stephen on commercial and clinical progress. I will close by discussing our value drivers before we take your questions. The Moderna team delivered a great quarter all around. In the first quarter, we grew year-over-year revenues significantly, 0.4 billion driven primarily by execution of our long-term strategic partnership in with the uk government with a strong q1 we are reiterating up to 10 growth in 2026. we reported a net loss of 0.5 billion excluding the previously announced arbiters litigation settlement or 1.3 billion on the gap basis we ended the quarter with 7.5 billion in cash and investments maintaining a strong balance sheet as a result of continued financial discipline. For cost reduction, efforts continued in the first quarter, building on actions taken in 2025, and resulting in a 26% year-over-year reduction in adjusted cash costs in the first quarter, excluding litigation settlement. This performance keeps us on track with a full year objective of approximately $4.2 billion in adjusted cash costs. We also advance our commercial portfolio and our pipeline. In our respiratory portfolio, we achieved an important milestone with the approval of mCombriax in the European Union. mCombriax was known before as mRNA-1083 or flu plus COVID combo vaccine. This is the first flu plus COVID combo vaccine approved in the world, and this marks Moderna's fourth approved product. I am very proud of our team for bringing this innovation to patients, This is exactly what Moderna stands for. We also secured approval for MnexPak in the European Union. These two new approved products in Europe will be important growth drivers in the EU in 2027, and when we anticipate the COVID market reopening for Moderna. In the US, our seasonal flu vaccine mRNA 1010 was assigned a PIDUFA date of August 5th. In oncology, for Entismeran, we initiated a new phase three clinical trial in non-small cell lung cancer for patients with stage one disease. These are first phase three clinical trial evaluating in Tismoran in a monotherapy arm in patients with early stage disease. I am very excited about this new clinical development because stage one lung cancer is mainly treated with surgery alone today. Additionally, we look ahead to our upcoming ASCO oral presentation where we'll report our five-year update of our intesbaran innate-driven melanoma. We were also pleased to recently present at AACR the new clinical data for mRNA-4359, which is currently in phase two for patients in stage four disease, metastatic, in melanoma and lung cancer. Lastly, we support from CEPI, our pandemic flu program, mRNA-1018, has now initiated its phase three study I am very pleased with the company's strong performance in Q1 and very thankful for our team that executed across the board. With that, I'll turn it over to Jamie.