Moderna (MRNA) shares rose 5.3% on November 6, 2026, following the release of strong third-quarter results and a raised revenue outlook for the full year. The company reported Q3 revenue of $1.3 billion, significantly beating analyst expectations of $890.3 million, driven primarily by higher COVID-19 vaccine sales. Notably, Moderna turned a quarterly profit with earnings per share of $0.38, contrasting sharply with the projected adjusted loss of $1.10 and a loss of $0.51 a year prior. Management increased its 2026 revenue guidance to a growth range of 15% to 25%, up from a previous expectation of up to 10% growth, citing a strong start to the vaccination season. International sales were particularly robust, with $900 million in revenue for 2026 so far, already exceeding the total annual revenue achieved in 2025 by $200 million. Additionally, the company reduced its 2026 R&D budget by $200 million to $2.7 billion as several studies wind down. Moderna also resolved a patent dispute with GSK regarding their COVID and RSV shots on the same day. The stock has seen significant volatility recently, including a massive 177% jump in August following positive Phase 3 trial results for a cancer vaccine developed with Merck, followed by a sharp correction. Shares closed at $254.19, just below the 52-week high of $258.38 set on November 4. Looking ahead, investors will focus on full-year 2026 revenue growth when comparing it to the updated outlook in February 2027 upon the release of fourth-quarter results. The stock has outperformed the S&P 500 significantly over the past year, returning nearly 980% compared to the index's roughly 10% gain, though this comes with inherent risks associated with betting on a single high-volatility biotech stock.