Moderna (MRNA) r&d spend was $3.1B in FY2025 (-31% YoY). The tables below show the complete quarterly and annual r&d spend history, sourced from SEC EDGAR 10-K and 10-Q filings.
Annual R&D Spend
Fiscal Year
R&D Spend
YoY
2025
$3.1B
-31%
2024
$4.5B
-6%
2023
$4.8B
+47%
2022
$3.3B
+65%
2021
$2.0B
+45%
2020
$1.4B
+176%
2019
$496M
+9%
2018
$454M
+11%
2017
$410M
+49%
2016
$275M
Recent Quarterly R&D Spend
Quarter
R&D Spend
Q2 2026
$651M
Q1 2026
$649M
Q4 2025
$775M
Q3 2025
$801M
Q2 2025
$700M
Q1 2025
$856M
Q4 2024
$1.1B
Q3 2024
$1.1B
Q2 2024
$1.2B
Q1 2024
$1.1B
Q4 2023
$1.4B
Q3 2023
$1.2B
Source: MRNA on EDGAR. Data from SEC EDGAR 10-K and 10-Q filings. Updated quarterly.