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Moderna's Key Patent Win Overshadowed By Gloomy Outlook
Moderna Inc. (NASDAQ:MRNA) reported on Friday a second-quarter loss of $2.13 per share, beating the consensus of a $2.98 loss, an improvement from a loss of $3.33 a year ago. The COVID-19 vaccine maker reported quarterly sales of $142 million, beating the consensus of $116.34 million. Sales fell 41% from $241 million in the same period in 2024. The decline was primarily driven by lower COVID-19 vaccine sales, which totaled $114 million in the is expected to be concentrated in the second half of the year, aligning with the fall and winter seasons as the vaccine transitions into a seasonal respiratory product. The company reported $114 million in Spikevax sales in the second quarter of 2025, including $88 million in U.S. and $26 million in international sales. Moderna recently announced U.S. Food and Drug Administration (FDA) approval for the supplemental Biologics License Application (sBLA) for Spikevax in children 6 months through 11 years of age who are at increased risk for COVID-19 disease. The company's COVID-19 vaccine (mRNA-1273) was previously available for pediatric populations under Emergency Use Authorization (EUA). Additionally, the company announced it has received final approval from the European Medicines Agency for Spikevax targeting the LP.8.1 variant in individuals six months of age and older. Moderna also announced FDA approval for mNEXSPIKE (mRNA-1283), a next-generation vaccine against COVID-19, for use in all adults aged 65 and older, as well as individuals aged 12-64 years with at least one underlying risk factor. On Wednesday, the European Commission approved the updated formulation of the COVID-19 vaccine Spikevax, targeting the SARS-CoV-2 variant LP.8.1, for individuals six months of age and older. Moderna reported negligible mRESVIA (RSV vaccine) sales in the second quarter of 2025. Moderna's RSV vaccine for adults aged 60 years and older has been approved in approximately 40 countries. Additionally, Moderna recently announced that the FDA has approved mRESVIA (mRNA-1345), expanding the previous indication, for the prevention of lower respiratory tract disease (LRTD) caused by RSV in individuals 18-59 years of age who are at increased risk for disease. View more earnings on MRNA Cost of sales for the second quarter of 2025 was $119 million, which included third-party royalties of $6 million, inventory write-downs of $38 million, and unutilized manufacturing capacity and wind-down costs of $52 million. Cost of sales was relatively flat compared to the same period in 2024. The increase in cost of sales as a percentage of net product sales, to 105% from 62% in the second quarter of 2024, was mainly driven by lower net product sales. R&D expenses were $700 million, a 43% decrease year over year. The reduction was primarily driven by lower clinical trial and manufacturing expenses, reflecting reduced production spending, program wind-downs, and the timing of trial activities across the company's respiratory vaccine portfolio. Outlook Moderna has revised its 2025 revenue outlook to $1.5 billion-$2.2 billion compared to $1.5 billion-$2.5 billion, compared to a consensus of $2.09 billion, reflecting a $300 million reduction at the high end of the range. The update is primarily driven by the timing shift of deliveries of contracted revenue for the U.K. into the first quarter of 2026. Moderna expects a revenue split of 40-50% in the third quarter for the second half of the year, with the balance in the fourth quarter of 2025. Cost of sales for 2025 is expected to be approximately $1.2 billion. Full-year 2025 research and development expenses are anticipated to be $3.6 to $3.8 billion, lowered from previous expectations of approximately $4.1 billion. Year-end cash and investments for 2025 are projected to be approximately $6 billion. Recently, Moderna announced an organizational restructuring that will reduce its global workforce by approximately 10%. The company anticipates a total headcount of under 5,000 by year-end. Legal Ruling On Friday, Moderna announced that the U.K. Court of Appeal upheld the validity of Moderna's EP'949 patent. European patent EP'949 relates to chemically modified mRNA, one of Moderna's foundational technologies. The decision affirms the High Court's initial ruling from July 2024 that the EP'949 patent is valid and infringed by Pfizer Inc (NYSE:PFE) / BioNTech SE's (NASDAQ:BNTX) COVID-19 vaccine, Comirnaty. Pfizer/BioNTech subsequently appealed. With this ruling, the U.K. becomes the first jurisdiction globally to issue a second-instance decision confirming the validity of one of Moderna's core mRNA patents. In Germany, the Regional Court found that Pfizer and BioNTech infringed Moderna's modified mRNA patent and confirmed Moderna's right to seek damages. An appeal is pending. The European Patent Office upheld the validity of EP'949 in opposition proceedings. An appeal is pending. Price Action: Moderna stock is trading 7.92% lower to $27.22 premarket at last check Friday. Read Next:Photo by Lutsenko_Oleksandr via Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? MODERNA (MRNA): Free Stock Analysis Report This article Moderna's Key Patent Win Overshadowed By Gloomy Outlook originally appeared on © 2025 Benzinga does not provide investment advice. 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24 minutes ago
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People Are Calling Out The "Beloved" 2000s Trends That Are Actually Weird, Confusing, Or Straight-Up Toxic, And It's 100,000% True
We recently asked the BuzzFeed Community to tell us the 2000s trends that were actually weird, confusing, or simply toxic, and they shared the once-loved fads that are now, Here are the eye-opening results: 1."Those stretchy popcorn shirts 😖. I had one as a kid, and it was both ugly and uncomfortable, so I never wore it." —nathanvh 2."How wild the paparazzi and celebrity news media were. They were vicious, cruel, and did not care at all about how any of them felt. Some radio stations would have countdown clocks for minors turning legal. Asking teenagers their thoughts about sex or whether they were pregnant. Calling women fat for being a size 6." —monikap6 3."Low-rise jeans. Gen Z is already trying to bring them back, but they don't realize that it's not just a matter of preference. For several years in the 2000s, you couldn't buy ANY kind of jeans besides low rise; that's practically all they sold." "And if they were unflattering on your body type? Oh, boy, did people have cruel things to say about you." —padawanryan 4."The pressure to be thin. I still struggle to this day with my body image because of what was slammed down my throat in my formative years. Thinking I had no value and no one would ever love me romantically if I didn't have a flat stomach was a lot." —j458091739 5."One thing I don't miss is the cellphone salespeople. I remember playing 'Dodge the Cellphone Salesperson' when going to any shopping center. Any time I wanted to go to the food court or from any part of the shopping center to the other, I would get yelled at by the people at the cellphone kiosk. They would insult my intelligence by saying their phone was free." "It was hard to just go to the food court without the annoying salespeople shouting at me. This was when people were just starting to have their own cellphones." —troper 6."Fat-shaming. More specifically, shaming any woman who had the slightest bit of a tummy, whose ribs you couldn't see, etc. All of us millennial women have body dysmorphia from coming of age during the oughts (not that it's much better now)." —Anonymous, 38, Oregon "Body-shaming. It's always been an issue in Hollywood, but the 2000s were on a whole different level. I remember being a size 6 in high school and feeling like I needed to lose weight because *gasp* I wasn't a size 2, and I saw celebrities get shredded for being my size in the media. I've always been muscular with an hourglass figure, so even if I starved myself, I'd never have been a size 2. I'm a little curvier now as an adult (size 10), but still in shape, and I love my body. It hurts my heart when I look at photos of myself when I was younger, and I see a thin, beautiful girl who hated her body." —minibubble32237 7."I don't miss those awful-looking PT Cruisers. Looks like someone tried to drive their sedan through the 1950s but got stuck in Bozo's driveway." —colleend9 8."Freestyle rapping at high school house parties. Geez. You couldn't just kick it with the boys without someone suggesting, 'Let's freestyle.' The time I wasted trying to freestyle was stressful. Workaholics captures those moments pretty well." —Anonymous, 42, California 9."Skinny jeans on everyone, even toddlers. They only looked good on particular body types, and trying to wrestle them off a kid who needed a diaper change was a nightmare." —Anonymous, 46, New Jersey 10."I don't miss the time before being a nerd/individual, which was cool. In the early 2000s, 'fitting in' was still very much what was desirable. Irony didn't become trendy until, like, 2008. Before then, being blonde, straight, fashionable, and neurotypical was still considered ideal. I feel like these days, there's a bit more tolerance of different hobbies and styles than the more conformist days of the early '00s." —Anonymous, 35, Nebraska 11."Super skinny eyebrows. I spent way too much time trying to make them as thin and crisp as possible." —Anonymous, 40, Nevada 12."Not only was adult women's clothing all tight and low-rise, so was girls' and juniors' clothing. It was so uncomfortable to be pushed to dress in such a revealing way as a preteen and young teen. I just wanted to wear shorts and a T-shirt I could move in, but that required shopping in the boys' department, and obviously, that brought another set of problems. That and being so constrained to what was on trend." "All stores carried different versions of the same thing. All low-rise to ultra-low-rise, cropped, and tight. Booooooo!" —Anonymous, 36, Washington 13."Burberry. I saw Billie Eilish wearing it a few years ago, and it just reminded me of all the cheap knock-offs that were everywhere. —katashworth 14."My mom always talks about how much she doesn't miss smokey eyes, orange tanning, or the hair extensions whenever the 2000s are brought up. Nothing pissed her more than the hair thing, though. EVERYONE was asking her if her naturally long hair was real, which was so annoying. She was never with the trend and never will be lol." —Anonymous, USA 15."The 'Are you on your period?' joke that was used whenever someone was upset." —Anonymous, 42, California And finally... 16."Tanning beds. I did this a lot growing up in the '80s and worry a lot about cancer. It was really toxic, like, literally!" —Anonymous, 57, Arizona Note: Some responses have been edited for length and/or clarity. Whew. What are some other '00s trends that were actually awful? Tell us in the comments, or if you prefer to remain anonymous, you can use the form below. 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24 minutes ago
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Performant Healthcare, Inc. to Be Acquired by Machinify
Performant stockholders to receive $7.75 in cash per share, a 139% premium to Performant's 90-day VWAP PLANTATION, Fla., August 01, 2025--(BUSINESS WIRE)--Performant Healthcare, Inc. (Nasdaq: PHLT) (the "Company" or "Performant"), a leading provider of technology-enabled payment integrity, eligibility, and related analytics services, announced today its entry into a definitive agreement to be acquired by Machinify, a healthcare intelligence leader and portfolio company of New Mountain Capital, which has agreed to acquire Performant for approximately $670 million. Under the terms of the merger agreement, Performant stockholders will receive $7.75 in cash for each share of Performant common stock outstanding at the closing of the transaction. The per share price represents a premium of approximately 139% to the Performant 90-day volume weighted average price (VWAP) of $3.25 per share calculated as of market close on July 31, 2025. "What began as a focused effort to solve complex payment integrity challenges has grown into a market-leading solution for healthcare payers," said Simeon Kohl, CEO of Performant. "This success is a direct result of our team's dedication, and I am incredibly proud of the value we have delivered to both our clients and stockholders. After a comprehensive review of strategic alternatives, including continuing to operate as a standalone entity, our board of directors and executive leadership team unanimously concluded that this path represents the best outcome for our stockholders, clients, and employees. Machinify's aligned values, proven industry expertise, and commitment to advancing innovation will accelerate our mission and amplify our impact across the healthcare landscape." "At Machinify, we are creating the modern, healthcare payments intelligence platform built for accuracy and transparency," said David Pierre, CEO of Machinify. "By combining our powerful Payer Operating System with Performant's trusted domain expertise and differentiated data assets, Machinify will support a broader range of clients, including the Centers for Medicare and Medicaid, and state and local governments. The combined company will deliver quality, timely payments at dramatically reduced administrative costs." "Our thesis for the acquisition of Performant is consistent with our prior investments, with a primary focus on reducing administrative inefficiencies through investments in technology, unlocking the value of data," said Matt Holt, Managing Director and President of Private Equity at New Mountain Capital. "The future of the U.S. healthcare system requires modernization of IT infrastructure, including patient-centric data networks. Performant plus Machinify plus the ecosystem of companies that we are building at New Mountain Capital will unlock the potential for a new system that is aligned with a more productive care model that is both more efficient and delivers better patient outcomes." The transaction is expected to close by the end of 2025, subject to the satisfaction of customary closing conditions, including approval by Performant's stockholders and receipt of applicable regulatory approvals. Prior to the closing of the transaction, Performant is required to operate its business in the ordinary course. In addition, following the closing of the transaction, Performant's shares will be delisted from Nasdaq. The transaction has been unanimously approved by the board of directors of Performant. Advisors Truist Securities is serving as exclusive financial advisor to Performant, and Pillsbury Winthrop Shaw Pittman LLP is acting as legal counsel. J.P. Morgan Securities LLC is serving as exclusive financial advisor to Machinify, and Ropes & Gray LLP is acting as legal counsel. ABOUT PERFORMANT Performant supports healthcare payers in identifying, preventing, and recovering waste and improper payments by leveraging advanced technology, analytics and proprietary data assets. Performant works with leading national and regional healthcare payers to provide eligibility-based (also known as coordination-of-benefits (COB)) services and claims-based services, which includes the audit and identification of improperly paid claims. Performant is a leading provider of these services in both government and commercial healthcare markets. Performant also provides advanced reporting capabilities, support services, customer care, and stakeholder training programs designed to mitigate future instances of improper payments. To learn more about Performant, please visit ABOUT MACHINIFY Machinify is a leading healthcare intelligence company with expertise across the payment continuum, delivering unmatched value, transparency, and efficiency to health plan clients across the country. Deployed by over 60 health plans, including many of the top 20, and representing more than 160 million lives, Machinify brings together a fully configurable and content-rich, AI-powered platform along with best-in-class expertise. We're constantly reimagining what's possible in our industry, creating disruptively simple, powerfully clear ways to maximize financial outcomes and drive down healthcare costs. For more information about Machinify, please visit ABOUT NEW MOUNTAIN CAPITAL New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than excessive risk, as it pursues long-term capital appreciation. The firm currently manages private equity, strategic equity, credit, and net lease real estate funds with over $55 billion in assets under management. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. To learn more about New Mountain Capital, please visit Additional Information and Where to Find It This communication relates to a proposed transaction among Performant, New Mountain Capital and Machinify. In connection with the proposed transaction, Performant will file a proxy statement with the Securities and Exchange Commission (the "SEC"). The proxy statement will be sent to all Performant stockholders. Performant also will file other documents regarding the proposed transaction with the SEC. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SECURITY HOLDERS OF PERFORMANT ARE URGED TO READ THE PROXY STATEMENT (WHEN AVAILABLE) AND ALL OTHER RELEVANT DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and Performant stockholders may obtain free copies of the proxy statement (when available) and other documents that are filed or will be filed with the SEC by Performant through the website maintained by the SEC at The documents filed by Performant with the SEC also may be obtained free of charge at Performant's website at or upon written request to Performant Healthcare, Inc., 900 South Pine Island Road, Suite 150, Plantation, FL 33324. Participants in the Solicitation Performant and its directors and executive officers may be deemed to be participants in the solicitation of proxies from Performant's stockholders in connection with the proposed transaction. Information about Performant's directors and executive officers is set forth in Performant's proxy statement for its 2025 Annual Meeting of Stockholders on Schedule 14A filed with the SEC on April 24, 2025 (the "Annual Meeting Proxy Statement"). To the extent that holdings of Performant's securities have changed since the amounts printed in the Annual Meeting Proxy Statement, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Additional information regarding the interests of those persons and other persons who may be deemed participants in the proposed transaction may be obtained by reading the proxy statement regarding the proposed transaction when it becomes available. You may obtain free copies of these documents as described in the preceding paragraph. Forward Looking Statements This communication and the Company's other filings and press releases may contain forward-looking statements, which include all statements that do not relate solely to historical or current facts, such as statements regarding our expectations, intentions or strategies regarding the future. These forward-looking statements are based on current expectations, estimates, assumptions, and projections that are subject to change and actual results may differ materially from the forward-looking statements. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected and are subject to a number of known and unknown risks and uncertainties, including: (i) the risk that the proposed merger may not be completed in a timely manner or at all, which may adversely affect the Company's business and the price of the Company's common stock; (ii) the failure to satisfy any of the conditions to the consummation of the proposed merger, including the receipt of certain regulatory approvals; (iii) the failure to obtain stockholder approval; (iv) the occurrence of any fact, event, change, development or circumstance that could give rise to the termination of the merger agreement, including in circumstances requiring the Company to pay a termination fee; (v) the effect of the announcement or pendency of the proposed transaction on the Company's business relationships, operating results and business generally; (vi) risks that the proposed transaction disrupts the Company's current plans and operations; (vii) the Company's ability to retain and hire key personnel and maintain relationships with key business partners and customers, and others with whom it does business, in light of the proposed transaction; (viii) risks related to diverting management's attention from the Company's ongoing business operations; (ix) unexpected costs, charges or expenses resulting from the proposed merger; (x) potential litigation relating to the proposed merger that could be instituted against the parties to the merger agreement or their respective directors, managers or officers, including the effects of any outcomes related thereto; (xi) certain restrictions during the pendency of the proposed merger that may impact the Company's ability to pursue certain business opportunities or strategic transactions; (xii) uncertainty as to timing of completion of the proposed merger; (xiii) legislative, regulatory and economic developments affecting the Company's business and (xiv) other risks described in the Company's filings with the SEC, such risks and uncertainties described under the headings "Forward-Looking Statements," "Risk Factors" and other sections of the Company's annual report on Form 10-K for the year ended December 31, 2024, and subsequently filed reports on Forms 10-Q and 8-K. The forward-looking statements are made as of the date of this press release and the Company does not undertake to update any forward-looking statements to conform these statements to actual results or revised expectations. More information on potential factors that could affect the Company's financial condition and operating results is included from time to time in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's annual report on Form 10-K for the year ended December 31, 2024, and subsequently filed reports on Forms 10-Q and 8-K. The forward-looking statements are made as of the date of this press release and the Company does not undertake to update any forward-looking statements to conform these statements to actual results or revised expectations. View source version on Contacts Contact Information Performant Jon Bozzuto, Investor RelationsPerformant Healthcare, Inc.(925) 960-4988investors@ Machinify Jen Long120/80 MKTGmachinify@ New Mountain Capital Dana GormanH/Advisors
