Moderna, Inc.

Standing by, welcome to the Moderna Second Quarter 2026 conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will 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 now like to hand the conference over to your speaker today, Lavina Talukdar. Please go ahead.

Thank you, Kevin. Good morning, everyone. And thank you for joining us on today's call to discuss Moderna's second 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 Stéphane Bancel, our chief executive officer, Stephen Hoge, our president, Jamie Mock, our chief Financial Officer, and David Berman, our Chief Development Officer. Before we begin, please note that this conference call will include forward-looking statements made pursuant to the safe harbor provisions of the Private 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 actual performance and results to differ materially from those expressed or implied in these forward-looking statements. With that, I will now turn the call over to Stéphane.

Thank you, Lavina. Good morning or good afternoon, everyone. Thank you for joining us. After my review of the second quarter, Jamie will present our financial results and outlook, followed by Stephen with recent business updates. Then David will review our clinical progress in oncology and Rare Diseases. And then I will close by discussing our key value drivers. As you know, the second quarter is always light for seasonal vaccines. We generated revenue of $0.1 billion, which exceeded the top of our range. Our focus on financial discipline continued. We reduced cash costs by 10% in Q2 compared to the second quarter of 2025. We reported a net loss of $0.8 billion. We ended the quarter with $6.9 billion in cash and investments, maintaining a strong balance sheet while continuing to invest in our pipeline. Overall, I am pleased with our continued execution across the business. This team has done a great job to get us ready for the 26-27 vaccination season and our pipeline is progressing well. During the quarter, we delivered several important updates across our pipeline. In our respiratory portfolio, Our seasonal flu vaccine, mRNA-1010, received a positive recommendation from the US ViyaPak. This represents another important milestone ahead of our August 5th PDUFA date and brings us one step closer to potentially making our flu vaccine available to patients. For our norovirus vaccine, mRNA-1403, following an interim analysis, we are preparing to enroll an additional cohort in its phase 3 trial. In oncology, we are very pleased to present the five-year phase two update of intesmoron autogen in combination with Ketudra in adjuvant melanoma at ASCO 2026, highlighting the continued durability of a clinical benefit observed of this program. We also presented important translation data that provides additional confidence in the mechanism of action over individualized new antigen therapy. And finally, we're excited to announce that dosing has begun in two cancer antigen therapy programs, the Phase 1-2 study of mRNA-4194 in Lynch syndrome and the Phase 1 study of mRNA-4200 in solid tumors. Beyond our pipeline, we also had several notable corporate achievements during the quarter. We are pleased to expand our partnership with CEPI to explore the development of an Ebola vaccine reinforcing our long-standing commitment to global health security and pandemic preparedness. We were also honored to be named the world's most impactful company by Time magazine, recognizing our pioneering work in mRNA science. This recognition reflects both the global impact we made during the pandemic and our continued effort to advance a broad pipeline of innovative medicine and expand access to mRNA technology worldwide. Turning now to our leadership team, I'd like to highlight two important appointments we announced this quarter. As we continue to strengthen Moderna for the next phase of growth, I am very pleased to welcome Esther Bank as our new Chief Commercial Officer. Esther joined us with more than 30 years of commercial leadership experience and an outstanding track record of leading high-performing organizations across the healthcare industry. More recently, she led U.S. operations at Zoetis and before that at several commercial leadership roles at BMS and Novartis, where she helped bring important medicines to patients around the world. Esther now leads a global commercial organization as we prepare for multiple launches and continue expanding into new markets. We are delighted to have Esther John Moderna and have been enjoying working closely with her. I am also pleased to welcome Michael McDonald to Moderna's Board of Directors. Michael is familiar to many of you, as most recently he served as Executive Vice President and Chief Financial Officer of Biogen. Michael brings more than two decades of public company CFO experience and deep expertise across finance, capital markets, investor relations, and corporate governance. His experience across the life science and technology sectors will be a valuable addition to our board as we continue to execute our strategy and create long-term value. We are delighted to welcome Michael to Moderna's board. With that, I will now talk to Jamie.