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Organization and Description of Business | 12 Months Ended
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Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Organization and Description of Business | Organization and Description of Business Moderna, Inc. (collectively, with its consolidated subsidiaries, any of Moderna, we, us, or the Company) was incorporated in Delaware on July 22, 2016. We are the successor in interest to Moderna LLC, a limited liability company formed under the laws of the State of Delaware in 2013. Our principal executive office is located at 200 Technology Square, Cambridge, MA. We are a biotechnology company creating a new generation of transformative medicines based on messenger RNA (mRNA), to improve the lives of patients. mRNA medicines are designed to direct the body’s cells to produce intracellular, membrane, or secreted proteins that have a therapeutic or preventive benefit with the potential to address a broad spectrum of diseases. Our platform builds on continuous advances in basic and applied mRNA science, delivery technology, and manufacturing, providing us the capability to pursue in parallel a robust pipeline of new development candidates. We are developing vaccines and therapeutics for infectious diseases, immuno-oncology, rare diseases, autoimmune and cardiovascular diseases, independently and with our strategic collaborators. In December 2020, we received an Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration (FDA) and an Interim Order from Health Canada authorizing the Moderna COVID-19 vaccine (also referred to as mRNA-1273) in the U.S. and Canada. Since inception, we have incurred significant net losses, which were $747.1 million, $514.0 million, and $384.7 million for the years ended December 31, 2020, 2019 and 2018, respectively. On February 14, 2020 and May 21, 2020, we sold 30,263,158 and 17,600,000 shares of common stock at a price of $19.00 and $76.00 per share through public equity offerings, with aggregate net proceeds from the offering of $549.5 million and $1.30 billion, respectively, net of underwriting discounts, commissions and offering expenses. As of December 31, 2020, we had an accumulated deficit of $2.24 billion. As of December 31, 2020, we had 21 mRNA development programs in our portfolio with 13 having entered the clinic. We expect to continue to incur significant expenses for the foreseeable future. If we seek to obtain regulatory approval for any of our investigational medicines, we expect to incur significant commercialization expenses. In addition, we anticipate that our expenses will increase significantly in connection with our development and commercializing our mRNA-1273 vaccine and ongoing activities to support our platform research, drug discovery and clinical development, including development of any new generations of vaccines against variants of SARS-CoV-2, infrastructure and Research Engine and Early Development Engine (which includes our Moderna Technology Center), digital infrastructure, creation of a portfolio of intellectual property, and administrative support. We may finance our future cash needs that exceed our operating costs through a combination of public or private equity offerings, structured financings and debt financings, government funding arrangements, strategic alliances and marketing, manufacturing, distribution and licensing arrangements. We may be unable to raise additional funds or enter into such other agreements on favorable terms, or at all. We believe that our cash, cash equivalents, and investments as of December 31, 2020 will be sufficient to enable us to fund our projected operations through at least the next 12 months from the issuance of our financial statements. We are subject to numerous risks and uncertainties associated with pharmaceutical development and commercialization, and we are unable to predict the timing or amount of expenses or when or if we will be able to achieve or maintain profitability. If we fail to become profitable or are unable to sustain profitability on a continuing basis, then we may be unable to continue our operations at planned levels and be forced to reduce our operations.

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- Definition The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -URI http://asc.fasb.org/topic&trid=2122149 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -URI http://asc.fasb.org/topic&trid=2197479 + Details
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