Elon Musk Says mRNA Has ‘Tremendous’ Potential After Moderna, Merck Cancer Vaccine Breakthrough — MRNA Stock Falls Over 11% in Premarket (UPDATED)

mRNA Therapeutics Market Outlook Report 2026-2035 Featuring Profiles of Arcturus Therapeutics, BioNTech, CureVac, Moderna, Providence Therapeutics, RNAimmune, Recode Therapeutics, and More

The global mRNA therapeutics market (excluding COVID-19 applications) is projected to grow from USD 201 million in 2026 to USD 9.98 billion by 2035, with a 63% CAGR. Growth is driven by expanding oncology and rare disease pipelines, advances in lipid nanoparticle delivery, and strategic partnerships. However, challenges include tissue-selective delivery limitations, repeat-dose tolerability concerns, and regulatory complexities. Moderna and BioNTech dominate with approximately 70% of pipeline activity.

Wells Fargo Maintains Overweight on Merck & Co, Raises Price Target to $170

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BioNTech vs. Moderna: Which Is the Better Cancer Vaccine Stock to Buy Now?

BioNTech and Moderna, both mRNA vaccine pioneers during the pandemic, are now pivoting to cancer vaccines as COVID revenue declines. Moderna is favored due to stronger recent clinical progress, including positive phase 3 results for its personalized cancer vaccine intismeran autogene and FDA approval for mFLUSIVA flu vaccine. While BioNTech has a deep pipeline including pumitamig, it has yet to deliver comparable phase 3 wins. Moderna's $61.2 billion market cap reflects investor confidence in its near-term commercialization prospects versus BioNTech's $26 billion valuation.

Does Moderna's mRNA Flu Shot Face a New Challenge From GSK?

Moderna secured FDA approval for mFlusiva, the first mRNA-based seasonal flu vaccine, establishing a foothold in the multibillion-dollar flu vaccine market. However, GSK announced plans to advance its own mRNA flu vaccine into phase III trials, which targets two viral proteins (HA and NA) and showed superior immune responses in phase II studies. While GSK's vaccine is still years away from market approval, it could pose a competitive challenge to Moderna's mFlusiva, which currently targets only HA like traditional flu vaccines.

Moderna shares are trading lower after Rothschild & Co downgraded the stock from Neutral to Sell.