Moderna Inc. (MRNA): Science Day frames expanding oncology pipeline and autoimmune in vivo CAR T; Intisiran will drive narrative in 2H+

Research evidence excerpt

Moderna Inc. (MRNA): Science Day frames expanding oncology pipeline and autoimmune in vivo CAR T; Intisiran will drive narrative in 2H+

Equity Research

25 June 2026 | 8:56PM EDT

Moderna Inc. (MRNA): Science Day frames expanding oncology pipeline

and autoimmune in vivo CAR T; Intismeran will drive narrative in 2H+

MRNA hosted a Science Day providing an overview of its research and early Salveen Richter, CFA

+1(212)934-4204 |

development programs. We highlight the following: 1) initial data from Ph1/2 T-cell salveen.richter@gs.com

Goldman Sachs & Co. LLC

engager mRNA-2808 in multiple myeloma is expected this year, where MRNA sees

Elizabeth Webster, Ph.D.

potential for differentiation versus traditional bispecific approaches per targeting +1(212)357-9925 |

three antigens (BCMA, GPRC5D, and FcRH5) - we acknowledge this as important elizabeth.webster@gs.comGoldman Sachs & Co. LLC

given the competitive/crowded treatment landscape, 2) discussion of Ph1/2 cancer Mark Aleynick, Ph.D.

antigen therapy mRNA-4359 (targeting PD-L1 and IDO1), where data in previously +1(212)357-6820mark.aleynick@gs.com|

untreated advanced melanoma is intriguing albeit in small patient numbers, and we Goldman Sachs & Co. LLC

Dellatorre, Ph.D.next look to additional data in 2027, 3) a therapeutic to address Epstein-Barr virus Matt | +1(212)855-0830

associated conditions including multiple sclerosis, with Ph1 data in 2H26 and Ph2 matt.dellatorre@gs.com Goldman Sachs & Co. LLC

proof-of-concept data in 2028, and 4) a newly disclosed in vivo CAR-T with initial

Tommie Reerink, CFA

development in systemic lupus erythematosus and other B cell mediated diseases, +1(212)357-2470 |

tommie.reerink@gs.com

potentially entering the clinic by YE27 and supported by preclinical data, with Goldman Sachs & Co. LLC