MRNA (Moderna) Research & Development: $2,925 Mil (TTM As of Mar. 2026)


MRNA Moderna Inc MRNA
60 GF Score
Price $60.42
GF Value $22.94
Valuation Significantly Overvalued
! 7 Warning Signs
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What is Moderna Research & Development?

Moderna MRNA -0.95% 60 Research & Development is $2,925 Mil as of Mar. 2026. GuruFocus rates MRNA with a GF Score™ of 60/100 and a GF Value™ of $22.94 (Significantly Overvalued). The stock has 7 warning signs investors should review.

Research & Development is the aggregate amount of research and development expenses during the year. Moderna's Research & Development for the three months ended in Mar. 2026 was $649 Mil. Its Research & Development for the trailing twelve months (TTM) ended in Mar. 2026 was $2,925 Mil.

Moderna  (NAS:MRNA) Research & Development Explanation

If competitive advantage is created by a patent or tech advantage, at some point it will disappear.

High R&D usually dictates high SG&A which threatens the competitive advantage.

Moderna Research & Development Related Terms

Moderna Research & Development Historical Data

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The historical data trend for Moderna's Research & Development can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Moderna Research & Development Chart

Moderna Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Research & Development
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1,991.00 3,295.00 4,845.00 4,543.00 3,132.00

Moderna Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Research & Development Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 856.00 700.00 801.00 775.00 649.00
MRNA
60GF Score
Moderna Inc MRNA
Research & Development is just one metric. See GF Score™, valuation, warning signs, and more.
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Moderna Research & Development Calculation

This is the expense the company spent on research and development.

Research & Development for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $2,925 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Research & Development →
What does a Research & Development of $2,925 Mil mean?
Moderna (MRNA) has a Research & Development of $2,925 Mil as of Mar. 2026. Research and development expense is the total cost for research and development activities. View historical data on Moderna and its competitors.
Is Moderna's Research & Development too high?
Moderna's current Research & Development is $2,925 Mil. Overall, Moderna has a GF Score™ of 60/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Moderna's Research & Development compare to INCY and ROIV?
Moderna's Research & Development of $2,925 Mil can be compared against companies in the Biotechnology industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Research & Development for a Biotechnology company?
A good Research & Development depends on the Biotechnology industry context. However, Research & Development should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Research & Development mean?
A high Research & Development can signal that a stock is expensive relative to its fundamentals. Research and development expense is the total cost for research and development activities. View historical data on Moderna and its competitors. Moderna's current Research & Development is $2,925 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Moderna stock overvalued right now?
Based on GuruFocus' analysis, Moderna (MRNA) is currently considered Significantly Overvalued. The stock's GF Value™ is $22.94, compared to a current price of $60.42 — trading 163.4% above its estimated fair value. The current Research & Development is $2,925 Mil. Moderna's overall GF Score™ is 60/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Research & Development calculated?
Research & Development is calculated from a company's financial statements. For Moderna (MRNA), the current Research & Development is $2,925 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Moderna (MRNA) Overvalued in 2026?

Based on GuruFocus' analysis, Moderna stock appears to be overvalued. The current stock price of $60.42 is trading 163.4% above its estimated GF Value™ of $22.94. GuruFocus considers Moderna to be Significantly Overvalued.

Key valuation signals for MRNA:

  • Research & Development: $2,925 Mil
  • GF Value™: $22.94 vs. price of $60.42 (163.4% above fair value)
  • GF Score™: 60/100 with 7 warning signs

No single metric tells the full story. See the MRNA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Moderna Business Description

Address 325 Binney Street, Cambridge, MA, USA, 02142
Moderna is a commercial-stage biotech that was founded in 2010 and had its initial public offering in December 2018. The firm's mRNA technology was rapidly validated with its covid vaccine, which was authorized in the United States in December 2020. Moderna had 35 mRNA development candidates in clinical studies as of August 2025. Programs span a wide range of therapeutic areas, including infectious disease, oncology, cardiovascular disease, and rare genetic diseases.
60GF Score

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Research & Development is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$60.42
Price
$22.94
GF Value