The new cinematic trailer showcases Rust Mobile retaining the DNA of its PC predecessor, from cutthroat PvP to base raiding while offering the accessibility and flexibility of mobile
Players can get a hands-on experience of Rust Mobile as it makes its debut at gamescom from 20th to 24th August
Players are invited to pre-register at rustmobile.com
SHENZHEN, CN / ACCESS Newswire / August 1, 2025 / Level Infinite is thrilled to reveal gameplay features for Rust Mobile, the officially licensed mobile adaptation of the iconic PC survival game Rust. Recreating the brutal survival experience, Rust Mobile combines the original with mobile-first innovations and will see its public hands-on debut at gamescom 2025.
Officially licensed by Facepunch Studios, Rust Mobile stays true to the uncompromising spirit of the original, delivering a survival experience fans know and love. From open-world exploration and ruthless PvP combat to base building and the tension of trust and betrayal, the mobile version captures the essence of Rust.
Played from a first-person perspective in a real-time, fully immersive world, players face constant danger, whether from hostile wildlife or rival survivors. A fully explorable sandbox with dynamic day-night cycle, weather systems, and region-based biomes also adds deep environmental strategy. Core gameplay pillars like scavenging, crafting, building, raiding, and permadeath remain intact, where every decision can mean life or death.
In Rust Mobile players can choose how they want to survive, by going full PvP or playing at their own pace, offering more flexibility while staying true to the tension and danger of the original. Tailored for mobile lifestyles, Rust Mobile makes it easier than ever to jump into the survival experience, whether you’re at home, on your commute, or in between.
Exclusive Hands-on Demo at gamescom 2025
Rust Mobile will officially participate in gamescom 2025, the world’s largest gaming event, in Cologne from 20th to 24th August, marking the first-ever public hands-on demo of the game.
Players interested in survival and PvP should head to Hall 6.1, Booth C-051g, where they can try out the all-new Rust Mobile experience and also pick up exclusive posters and merch while supplies last.
Rust Mobile has undergone significant improvements in quality, gameplay systems, and content since the early tech test in Canada earlier this year and is ready for players to dive in and have an epic experience.
For more information about Rust Mobile or to pre-register, head to rustmobile.com, or follow the game on X, and YouTube. For gamescom opening times visit www.gamescom.global.
About Level Infinite
Level Infinite is Tencent’s global games brand, dedicated to delivering engaging and original gaming experiences to a worldwide audience, whenever and wherever they choose to play. The brand also provides a wide range of services and resources to a network of developers and partner studios around the world to help them unlock the potential of their games. Level Infinite is both publisher of breakout hit games like PUBG MOBILE, Honor of Kings and Goddess of Victory: NIKKE and a collaborative partner in games such as Dune: Awakening from Funcom, Warhammer 40K: Darktide and many more. To learn more about Level Infinite, visit www.levelinfinite.com
MCLEAN, VA / ACCESS Newswire / August 1, 2025 / Gladstone Alternative Income Fund (“Gladstone Alternative” or the “Fund”) announced today that its board of trustees declared monthly cash distributions to shareholders for the month of August, increasing the daily dividend rate by approximately 7.9%, in comparison to the July daily dividend rate. The August distribution amount is $0.00192 per calendar day for each issued and outstanding Class A share, Class C share, and Class I share for the period beginning August 1, 2025 and ending August 31, 2025 (for shareholders who own shares all 31 days in August, the distribution will total $0.05952 per share). The distributions will be paid on August 29, 2025 for Dividend Reinvestment Plan (“DRIP”) participants and September 1, 2025 for non-DRIP participants.
John Sateri, President of Gladstone Alternative, noted, “We are pleased to announce the sixth consecutive monthly dividend for Gladstone Alternative, continuing our commitment to delivering consistent income to our investors. We look forward to continuing to create long-term value in the months and years ahead by generating sustainable returns for our shareholders while providing them access to a diversified portfolio of private credit and equity investments.”
About Gladstone Alternative Income Fund
Gladstone Alternative Income Fund is a non-diversified, unlisted, closed-end management investment company registered under the Investment Company Act of 1940 and is operating as an interval fund. The Fund seeks to achieve and grow current income by investing primarily in directly originated loans to lower and middle market private businesses in the United States, broadly syndicated loans and commercial real estate loans.
Investors are advised to carefully consider the investment objectives, risks and charges, and expenses of Gladstone Alternative Income Fund before investing. The prospectus, dated July 29, 2025, which has been filed with the U.S. Securities and Exchange Commission, and as supplemented from time to time, contains this and other information about the Fund and should be read carefully before investing. You may get these documents for free by visiting the Fund’s website at www.gladstoneintervalfund.com or by visiting EDGAR on the SEC’s website at www.sec.gov. To obtain a copy of the prospectus, you may also contact Gladstone Securities, LLC, the dealer manager and distributor for this offering, which will arrange to send you the prospectus if you request it by calling toll-free at (833) 849-5993.
LAS VEGAS, NV / ACCESS Newswire / August 1, 2025 / Adapti, Inc. (OTC:ADTI) announced today that its newly acquired baseball agency, The Ballengee Group, successfully facilitated a multi-year contract extension for Kansas City Royals starting pitcher Seth Lugo.
Lugo, who has been one of the American League’s most consistent pitchers in 2025, signed a two-year extension worth $40 million, with a third-year player option of up to $20 million. The contract extension marks another significant milestone for Ballengee Group, reinforcing the agency’s long-standing reputation for advocating top-tier talent and securing strong high value deals for its clients.
“Seth Lugo’s extension with Kansas City is a testament to the leadership and experience of the Ballengee team, and to Seth’s agent, Scott Barber,” said Adam Nicosia, CEO of Adapti. “Ballengee’s boots-on-ground approach and deep relationships across the league consistently delivers results that reflect the best interest of its athletes.”
The Ballengee Group, acquired by Adapti in July 2025, is a full-service sports agency representing professional baseball athletes. The agency is committed to client service, expert contract negotiations, and has a track record of advocating for high-character, high-performance players.
About Adapti, Inc. (OTC: ADTI)
Adapti, Inc. leverages advanced AI technology to match products and brands with optimal influencers, using proprietary data analytics to drive superior marketing results. Adapti aims to build a global platform where data is an asset, efficiently paired with high-impact influencers.
In July 2025, Adapti acquired the Ballengee Group, a full-service sports agency representing Major League Baseball athletes. The Ballengee Group assists its clients with contract negotiations, marketing deals, public relations, and strategic partnerships. The Ballengee Group has guided world champions and global icons throughout their careers.
Adapti plans to roll out a suite of integrated services that blend traditional contract negotiation and endorsement deals with dynamic social media campaigns, which we anticipate will be powered by AdaptAI’s proprietary “data fingerprint” technology that the company is developing. This technology will utilize Large Language Models to quickly optimize and adapt to changes in the ever-evolving marketing landscape. This holistic approach is being designed to maximize engagement, drive higher ROI for brand partners, and ensure athletes capture every opportunity to grow their platforms.
For more information, please visit our website: http://adapti.io. The information contained on our website is not incorporated by reference into this press release, and we disclaim any liability for such information.
Forward-Looking Statements
This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Adapti, Inc. generally identify forward-looking statements by terminology such as “may,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar words. These statements are only predictions. Adapti based these forward-looking statements largely on their then-current expectations and projections about future events and financial trends as well as the beliefs and assumptions of management. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Adapti’s control. Adapti’s actual results (including those of Ballengee post-acquisition) could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: (i) the ability to integrate the business operations of Ballengee with that of Adapti, (ii) the ability of Adapti to timely make the necessary filings with the SEC related to the acquisition of Ballengee, and (iii) those risks detailed in Adapti’s reports filed with the SEC, as well as other documents that may be filed by Adapti from time to time with the SEC. Accordingly, you should not rely upon forward-looking statements as predictions of future events. Additional risks and uncertainties can be found in the Company’s recent annual and quarterly reports, filed with the SEC or other filings that are filed with the SEC thereafter. Adapti cannot assure you that the events and circumstances reflected in the forward-looking statements will be achieved or occur, and actual results could differ materially from those projected in the forward-looking statements. The forward-looking statements made in this communication relate only to events as of the date on which the statements are made. Except as required by applicable law or regulation, Adapti undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events.
With IRS enforcement on the rise, self-employed truck drivers face growing financial and legal risks from unfiled returns and unpaid tax debt.
IRVINE, CALIFORNIA / ACCESS Newswire / August 1, 2025 / As IRS collections intensify in 2025, a growing number of self-employed truck drivers are facing serious consequences for falling behind on their taxes – including the suspension of commercial licenses and the seizure of federal tax refunds, according to a new warning from Clear Start Tax, a nationwide tax resolution firm.
The warning comes amid increased scrutiny of 1099 workers and rising reports of enforcement actions that are disproportionately impacting independent contractors in industries like trucking, where many drivers are responsible for handling their own tax filings and payments.
“Most 1099 truckers aren’t trying to avoid taxes – they’re just overwhelmed by inconsistent income, complicated deductions, and rising operating costs,” said a spokesperson from Clear Start Tax. “Unfortunately, the IRS doesn’t distinguish between intentional evasion and simple disorganization.”
Clear Start Tax notes that truckers with unpaid taxes or unfiled returns may see their CDL flagged during background checks or compliance reviews, which can jeopardize their livelihood. In some states, drivers have reported license holds or suspensions tied to unresolved tax issues.
“We’re seeing more cases where tax debt causes ripple effects: seized refunds, rejected loan applications, even blocked license renewals,” the spokesperson added. “For truckers who rely on every mile to make a living, these disruptions can be devastating.”
To avoid penalties, garnishments, and potential enforcement actions, Clear Start Tax urges 1099 truckers to act early – by filing any missing returns, reviewing estimated tax payments, and exploring relief programs like the IRS Fresh Start initiative.
“There are options to settle what you owe – often for less than the full amount – but waiting only limits what can be done,” said the spokesperson. “Truckers shouldn’t wait until the IRS pulls them off the road.”
About Clear Start Tax Clear Start Tax is a nationwide tax resolution company that helps individuals and small businesses resolve IRS and state tax debt through proven strategies and personalized support. From unfiled returns to wage garnishments, the team specializes in helping taxpayers regain control of their finances with compassion and clarity.
Top Four Conveyor Car Wash to Donate 100% of Proceeds to Charitable Organizations
THOMASTON, GA / ACCESS Newswire / August 1, 2025 / Tidal Wave Auto Spa is pleased to announce its 17th annual Charity Day event will be held on Friday, September 19, 2025. As part of the company’s long-standing commitment to giving back, Tidal Wave will donate 100% of the proceeds made during the one-day philanthropic event to local charities and non-profit organizations.
Over the event’s 16-year history, Tidal Wave Auto Spa has donated over $2 million to charitable organizations, with $686,353 raised at last year’s event. 2025 is set to be the largest Charity Day event yet, with 295 participating locations across the company’s 30-state footprint.
“Since its inception, Charity Day has represented a core value of our organization – supporting the communities that support us,” said founder and CEO Scott Blackstock. “It is deeply fulfilling to see the positive impact we can make within these local organizations, and our team members look forward to participating in this tradition year after year.”
Before the September 19th event, each Tidal Wave location selects a local charity or non-profit organization to partner with, which will be awarded 50% of the proceeds, plus any cash donations made during the one-day event. Local organizations will be on-site during Charity Day to share more about their mission and engage with the community. The remaining 50% of proceeds are awarded to the company’s longtime corporate philanthropic partner, Annandale Village, a non-profit organization dedicated to providing progressive life assistance to adults with developmental disabilities.
Tidal Wave Auto Spa is dedicated to making a positive difference in the communities it serves and was honored as a Champion of Charity by Professional Carwashing & Detailing. Beyond its annual Charity Day event, the company also gives back year-round through its fundraising program, which has helped raise over $5 million for local schools, organizations, churches, civic groups, and more.
Tidal Wave Auto Spa was founded over 20 years ago in Thomaston, GA, by husband and wife, Scott and Hope Blackstock. What started as a small-town self-service car wash business evolved into the first conveyor car wash open in Georgia and is now the fourth-largest conveyor car wash company in the nation, with 297 locations spanning 30 states. Tidal Wave is committed to providing every customer an exceptional car wash experience through industry-leading car care technology, clean and attractive locations, and outstanding customer service. Tidal Wave is committed to making a positive impact in the communities it serves, raising over $7 million for local programs, service organizations, and non-profit organizations through the company’s fundraising program and annual philanthropic Charity Day event.
Reports second quarter revenues of $0.1 billion, GAAP net loss of $(0.8) billion and GAAP EPS of $(2.13)
Updates 2025 projected revenue range to $1.5 to $2.2 billion, reflecting a $300 million reduction at the high end, primarily driven by timing of deliveries for contracted revenue into the first quarter of 2026
Improves 2025 expected GAAP operating expenses by approximately $400 million to a range of $5.9 to $6.1 billion
Reiterates 2025 expected year-end cash balance of approximately $6 billion
Announced three recent U.S. FDA approvals and positive Phase 3 efficacy results for seasonal influenza vaccine
CAMBRIDGE, MA / ACCESS Newswire / August 1, 2025 / Moderna, Inc. (NASDAQ:MRNA) today reported financial results and provided business updates for the second quarter of 2025.
“In the last three months, we advanced our pipeline with positive Phase 3 flu vaccine efficacy data and expanded our commercial portfolio with three new U.S. FDA approvals to drive future sales growth,” said Stéphane Bancel, Chief Executive Officer of Moderna. “Today, we are updating our 2025 financial framework, reducing the high end of this year’s expected revenue range by $300 million due to the timing of shipments. We continue to operate with financial discipline and are improving expected annual operating expenses in 2025 by approximately $400 million. Looking forward, we have important catalysts over the next six months across our infectious disease and oncology programs that will help us deliver on the promise of our mRNA platform for patients.”
Recent progress includes:
Commercial Updates
COVID–19: The Company reported $114 million in Spikevax® sales in the second quarter of 2025, which includes $88 million of U.S. sales and $26 million of 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.
RSV: The Company reported negligible mRESVIA® 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.
Second Quarter 2025 Financial Results
Revenue: Total revenue for the second quarter of 2025 was $142 million, a 41% decrease from $241 million in the same period in 2024. The decline was primarily driven by lower COVID vaccine sales, which totaled $114 million in the quarter. Demand is expected to be concentrated in the second half of the year, aligning with the fall and winter seasons as the vaccine continues to transition into a seasonal respiratory product.
Cost of Sales: 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 the impact of lower net product sales.
Research and Development Expenses: Research and development expenses for the second quarter of 2025 were $700 million, a 43% decrease compared to the same period in 2024. 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.
Selling, General and Administrative Expenses: Selling, general and administrative expenses for the second quarter of 2025 were $230 million, a 14% decrease compared to the same period in 2024. The decline was primarily driven by broad-based cost reductions across consulting and external services, personnel-related expenses, and commercial and marketing activities, reflecting the Company’s continued cost discipline and ongoing efforts to streamline operations.
Income Taxes: Income tax provisions for both periods were not material, as the Company continues to maintain a global valuation allowance against most of its deferred tax assets.
Net Loss: Net loss was $(0.8) billion for the second quarter of 2025, compared to $(1.3) billion for the second quarter of 2024.
Loss Per Share: Loss per share was $(2.13) for the second quarter of 2025, compared to $(3.33) for the second quarter of 2024.
Cash Position: Cash, cash equivalents and investments as of June 30, 2025, were $7.5 billion, compared to $8.4 billion as of March 31, 2025. The decrease during the quarter was primarily due to ongoing research and development expenses and other operating activities.
2025 Financial Framework
Revenue: The Company updated its 2025 projected revenue range to $1.5 to $2.2 billion, reflecting a $300 million reduction at the high end of the range. This is primarily driven by the timing shift of deliveries of contracted revenue for the U.K. into the first quarter of 2026. For the second half of the year, Moderna expects a revenue split of 40-50% in the third quarter with the balance in the fourth quarter of 2025.
Cost of Sales: Cost of sales for 2025 is expected to be approximately $1.2 billion.
Research and Development Expenses: 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.
Selling, General and Administrative Expenses: Selling, general and administrative expenses for 2025 are projected to be approximately $1.1 billion.
Income Taxes: The Company continues to expect its full-year tax expense to be negligible.
Capital Expenditures: Capital expenditures for 2025 are expected to be approximately $0.3 billion, lowered from previous expectations of approximately $0.4 billion.
Cash and Investments: Year-end cash and investments for 2025 are projected to be approximately $6 billion.
Recent Progress and Upcoming Late-Stage Pipeline Milestones
Respiratory vaccines:
Seasonal flu vaccine: In June, Moderna announced positive Phase 3 efficacy results for its seasonal flu vaccine (mRNA-1010), which demonstrated superior relative vaccine efficacy that was 26.6% (95% CI; 16.7%, 35.4%) higher than a licensed standard-dose seasonal influenza vaccine in adults aged 50 years and older. The Company is submitting mRNA-1010 data for publication, presenting data at medical conferences and preparing to file for FDA approval.
Seasonal flu + COVID vaccine: Moderna shared positive Phase 3 immunogenicity data for its flu/COVID combination vaccine (mRNA-1083) for adults aged 50 years and older at its 2024 R&D Day event. In May 2025, the Company announced that in consultation with the FDA, it had voluntarily withdrawn the pending Biologics License Application (BLA) for mRNA-1083 with the plan to resubmit after vaccine efficacy data from the Phase 3 trial of its investigational seasonal flu vaccine (mRNA-1010) are available. The Company is engaging with regulators on data requirements for resubmitting the BLA for mRNA-1083.
Latent and other vaccines:
Cytomegalovirus (CMV) vaccine: The Company shared 36-month durability data from a Phase 2 extension trial of its CMV vaccine candidate (mRNA-1647) at the ESCMID 2025 Global Congress. The pivotal Phase 3 study of mRNA-1647 is fully enrolled and has now accrued sufficient cases for evaluation of the primary endpoint of the study, evaluating its efficacy, safety and immunogenicity in the prevention of primary infection in women of childbearing age. Moderna is updating its analysis plan to incorporate additional secondary endpoints. The Company remains blinded and anticipates a Phase 3 final analysis in 2025.
Norovirus vaccine: The Phase 3 study evaluating the efficacy, safety and immunogenicity of Moderna’s trivalent vaccine against norovirus (mRNA-1403) is accruing cases. The timing of the Phase 3 readout will be dependent on case accruals.
Oncology therapeutics:
Intismeran autogene: Moderna continues to make progress on advancing mRNA-4157 in the clinic. In collaboration with Merck, the Phase 3 clinical trial for adjuvant melanoma is fully enrolled. Two non-small cell lung cancer (NSCLC) Phase 3 studies for those with and without prior neoadjuvant treatment are enrolling. Separate randomized Phase 2 studies for high-risk muscle invasive and high-risk non-muscle invasive bladder cancer are also enrolling, and a randomized Phase 2 study for adjuvant renal cell carcinoma is fully enrolled. Further, Moderna and Merck have launched a new Phase 2 study of first-line treatment for patients with metastatic melanoma.
Checkpoint adaptive immune modulation therapy (AIM-T): The Phase 1/2 study of mRNA-4359 is ongoing and the Phase 2 study, which includes cohorts in first-line metastatic melanoma and first-line metastatic NSCLC, is enrolling NSCLC patients.
The Company recently announced that three abstracts on its investigational mRNA therapeutics have been accepted for presentation at the 2025 European Society for Medical Oncology (ESMO) Congress.
Rare disease therapeutics:
Propionic acidemia (PA) therapeutic: In an ongoing Phase 1/2 study designed to evaluate safety and pharmacology in trial participants with PA, Moderna’s investigational therapeutic (mRNA-3927) has been generally well-tolerated to date with no events meeting protocol-defined dose-limiting toxicity criteria. Early results suggest potential decreases in annualized metabolic decompensation event (MDE) frequency compared to pre-treatment, and the majority of patients have elected to continue on the open label extension study. The Company’s PA program is in a registrational study.
Methylmalonic acidemia (MMA) therapeutic: Moderna’s investigational therapeutic for MMA (mRNA-3705) has been selected by the FDA for the Support for Clinical Trials Advancing Rare Disease Therapeutics (START) pilot program. The FDA and Moderna have agreed on the pivotal study design. The Company expects to start a registrational study in 2025.
Moderna Corporate Updates
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.
Company Accolades
Moderna was named to the Boston Business Journal‘s annual list of the Most Charitable Companies in Massachusetts (third consecutive year)
Moderna was recognized as a top-scoring company on Disability:IN’s Disability Equality Index and a Best Place to Work for Disability Inclusion (fourth consecutive year)
Key 2025 Investor and Analyst Event Dates
Analyst Day: November 20
Investor Call and Webcast Information
Moderna will host a live conference call and webcast at 8:00 a.m. ET on August 1, 2025. To access the live conference call via telephone, please register at the link below. Once registered, dial-in numbers and a unique pin number will be provided. A live webcast of the call will also be available under “Events and Presentations” in the Investors section of the Moderna website.
The archived webcast will be available on Moderna’s website approximately two hours after the conference call and will be available for one year following the call.
About Moderna
Moderna is a leader in the creation of the field of mRNA medicine. Through the advancement of mRNA technology, Moderna is reimagining how medicines are made and transforming how we treat and prevent disease for everyone. By working at the intersection of science, technology and health for more than a decade, the company has developed medicines at unprecedented speed and efficiency, including one of the earliest and most effective COVID vaccines.
Moderna’s mRNA platform has enabled the development of therapeutics and vaccines for infectious diseases, immuno-oncology, rare diseases and autoimmune diseases. With a unique culture and a global team driven by the Moderna values and mindsets to responsibly change the future of human health, Moderna strives to deliver the greatest possible impact to people through mRNA medicines. For more information about Moderna, please visit modernatx.com and connect with us on X (formerly Twitter), Facebook, Instagram, YouTube and LinkedIn.
MODERNA, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited, in millions, except per share data)
Three Months Ended June 30,
Six Months Ended June 30,
2025
2024
2025
2024
Revenue:
Net product sales
$
114
$
184
$
200
$
351
Other revenue1
28
57
50
57
Total revenue
142
241
250
408
Operating expenses:
Cost of sales
119
115
209
211
Research and development
700
1,221
1,556
2,284
Selling, general and administrative
230
268
442
542
Total operating expenses
1,049
1,604
2,207
3,037
Loss from operations
(907
)
(1,363
)
(1,957
)
(2,629
)
Interest income
81
111
171
231
Other income (expense), net
8
(27
)
4
(46
)
Loss before income taxes
(818
)
(1,279
)
(1,782
)
(2,444
)
Provision for income taxes
7
–
14
10
Net loss
$
(825
)
$
(1,279
)
$
(1,796
)
$
(2,454
)
Loss per share:
Basic and diluted
$
(2.13
)
$
(3.33
)
$
(4.64
)
$
(6.41
)
Weighted average common shares used in calculation of loss per share:
Basic and diluted
388
384
387
383
_______
1Includes grant, collaboration, licensing and royalty, and other miscellaneous revenue.
MODERNA, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited, in millions)
June 30,
December 31,
2025
2024
Assets
Current assets:
Cash and cash equivalents
$
1,279
$
1,927
Investments
3,852
5,098
Accounts receivable, net
36
358
Inventory
240
117
Prepaid expenses and other current assets
764
599
Total current assets
6,171
8,099
Investments, non-current
2,374
2,494
Property, plant and equipment, net
2,169
2,196
Right-of-use assets, operating leases
750
759
Other non-current assets
546
594
Total assets
$
12,010
$
14,142
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable
$
175
$
405
Accrued liabilities
987
1,427
Deferred revenue
218
153
Other current liabilities
192
221
Total current liabilities
1,572
2,206
Deferred revenue, non-current
65
58
Operating lease liabilities, non-current
666
671
Financing lease liabilities, non-current
32
39
Other non-current liabilities
276
267
Total liabilities
2,611
3,241
Stockholders’ equity:
Additional paid-in capital
1,127
866
Accumulated other comprehensive income (loss)
23
(10
)
Retained earnings
8,249
10,045
Total stockholders’ equity
9,399
10,901
Total liabilities and stockholders’ equity
$
12,010
$
14,142
MODERNA, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited, in millions)
Six Months Ended June 30,
2025
2024
Operating activities
Net loss
$
(1,796
)
$
(2,454
)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation
245
213
Depreciation and amortization
96
77
Amortization/accretion of investments
(37
)
(55
)
Loss on equity investments, net
8
35
Other non-cash items
36
7
Changes in assets and liabilities:
Accounts receivable, net
310
729
Prepaid expenses and other assets
(150
)
3
Inventory
(122
)
(197
)
Right-of-use assets, operating leases
19
(62
)
Accounts payable
(203
)
(199
)
Accrued liabilities
(395
)
(464
)
Deferred revenue
68
146
Operating lease liabilities
(10
)
25
Other liabilities
(25
)
(67
)
Net cash used in operating activities
(1,956
)
(2,263
)
Investing activities
Purchases of marketable securities
(3,059
)
(3,390
)
Proceeds from maturities of marketable securities
3,424
3,536
Proceeds from sales of marketable securities
1,059
1,999
Purchases of property, plant and equipment
(120
)
(378
)
Purchase of intangible asset
(10
)
–
Net cash provided by investing activities
1,294
1,767
Financing activities
Proceeds from issuance of common stock through equity plans
17
47
Tax payments related to net share settlements on equity awards
(1
)
–
Changes in financing lease liabilities
(3
)
1
Net cash provided by financing activities
13
48
Effect of changes in exchange rates on cash and cash equivalents
1
–
Net decrease in cash, cash equivalents and restricted cash
(648
)
(448
)
Cash, cash equivalents and restricted cash, beginning of year
1,929
2,928
Cash, cash equivalents and restricted cash, end of period
$
1,281
$
2,480
Spikevax®, mRESVIA® and mNEXSPIKE® are registered trademarks of Moderna.
Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding: Moderna’s 2025 financial framework, including its expected revenue range and ending cash balance; Moderna’s expected 2025 operating expenses; demand for Moderna’s products and Moderna’s ability to drive future sales growth; Moderna’s continued cost discipline; and anticipated milestones for Moderna’s pipeline programs, including catalysts over the next six months. In some cases, forward-looking statements can be identified by terminology such as “will,” “may,” “should,” “could,” “expects,” “intends,” “plans,” “aims,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. The forward-looking statements in this press release are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond Moderna’s control and which could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These risks, uncertainties, and other factors include, among others, those risks and uncertainties described under the heading “Risk Factors” in Moderna’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission (SEC), and in subsequent filings made by Moderna with the SEC, which are available on the SEC’s website at www.sec.gov. Except as required by law, Moderna disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this press release in the event of new information, future developments or otherwise. These forward-looking statements are based on Moderna’s current expectations and speak only as of the date of this press release.
###
Moderna Contacts Media: Chris Ridley Head of Global Media Relations +1 617-800-3651 Chris.Ridley@modernatx.com
Investors: Lavina Talukdar Senior Vice President & Head of Investor Relations +1 617-209-5834 Lavina.Talukdar@modernatx.com
CAMBRIDGE, MA / ACCESS Newswire / August 1, 2025 / Moderna, Inc. (NASDAQ:MRNA) today announced that the UK Court of Appeal has upheld the validity of Moderna’s EP’949 patent.
This decision affirms the High Court’s initial ruling from July 2024 that the EP’949 patent is valid and infringed by Pfizer/BioNTech’s COVID-19 vaccine, Comirnaty®, which was subsequently appealed by Pfizer/BioNTech. With this ruling, the UK becomes the first jurisdiction globally to issue a second-instance decision confirming the validity of one of Moderna’s core mRNA patents. The High Court’s finding of infringement was not disputed by Pfizer/BioNTech on appeal.
“Moderna is pleased that the Court of Appeal has upheld the High Court’s finding that the EP’949 patent is valid and infringed by Pfizer/BioNTech,” said Moderna Chief Legal Officer Shannon Thyme Klinger. “Moderna will continue to pursue and enforce its patent rights globally to protect its innovative mRNA technology.”
Elsewhere in Europe, recent legal developments have further strengthened Moderna’s intellectual property portfolio:
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 (EPO) upheld the validity of EP’949 in opposition proceedings, further reinforcing the patent’s strength. An appeal is pending.
European patent EP’949 relates to chemically modified mRNA, one of Moderna’s foundational technologies that enables the development of mRNA-based medicines.
About Moderna
Moderna is a leader in the creation of the field of mRNA medicine. Through the advancement of mRNA technology, Moderna is reimagining how medicines are made and transforming how we treat and prevent disease for everyone. By working at the intersection of science, technology and health for more than a decade, the company has developed medicines at unprecedented speed and efficiency, including one of the earliest and most effective COVID-19 vaccines.
Moderna’s mRNA platform has enabled the development of therapeutics and vaccines for infectious diseases, immuno-oncology, rare diseases and autoimmune diseases. With a unique culture and a global team driven by the Moderna values and mindsets to responsibly change the future of human health, Moderna strives to deliver the greatest possible impact to people through mRNA medicines. For more information about Moderna, please visit modernatx.com and connect with us on X (formerly Twitter), Facebook, Instagram, YouTube and LinkedIn.
Moderna Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding: Moderna’s plans to enforce its patent rights globally, including through seeking damages for infringement. The forward-looking statements in this press release are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond Moderna’s control and which could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These risks, uncertainties, and other factors include, among others, those risks and uncertainties described under the heading “Risk Factors” in Moderna’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and in subsequent filings made by Moderna with the U.S. Securities and Exchange Commission, which are available on the SEC’s website at www.sec.gov. Except as required by law, Moderna disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this press release in the event of new information, future developments or otherwise. These forward-looking statements are based on Moderna’s current expectations and speak only as of the date of this press release.
– Cash burn of $3.8 million in Q2 remains in line with projected quarterly range
– Cash and investments are sufficient to fund operations through Q3’2026 at current cash burn rate
– Commercial readiness activities underway for a phased launch of VenoValve® subject to FDA decision expected in 2H’2025
– IDE submission for enVVe® on track for 2H’2025
IRVINE, CA / ACCESS Newswire / August 1, 2025 / enVVeno Medical Corporation (NASDAQ:NVNO) (“enVVeno Medical” or the “Company”), a company setting new standards of care for the treatment of deep venous disease, today reported financial results for the second quarter 2025.
“As the recent headlines around CVI confirmed, CVI is a pervasive and a progressive disease that is especially debilitating once it becomes severe. Our participation in several of the recent national news stories about CVI fits with our strategy of establishing enVVeno Medical as the world-wide leader in treatments for severe, deep venous disease. With several value driving milestones on the horizon, including FDA decisions on potential approval for the VenoValve and the pivotal study for enVVe, we continue to make strong progress in our mission to bring first-in-category, effective treatments to patients with severe CVI, and are well positioned to lead the ongoing national dialogue about CVI as further events are reported,” commented Robert Berman, CEO of enVVeno Medical.
Summary of Financial Results for the Second Quarter 2025 The Company ended the quarter with $35.1 million in cash and investments. Based on management’s current expectations, this capital has the potential to fund the Company through the third quarter of 2026, including pre-commercialization activities for the VenoValve, and the commencement of the enVVe pivotal study.
Cash burn for the quarter was $3.8 million, consistent with the Company’s projected cash burn rate of approximately $4-5 million per quarter. The Company anticipates that its cash burn rate will increase from current levels once commercialization of the VenoValve begins.
The Company reported net losses of $6.7 million and $5.0 million for the three months ended June 30, 2025 and 2024, respectively, representing an increase in net loss of $1.7 million, or 35%. This increase was primarily due to higher operating expenses of $1.6 million resulting from additional personnel costs, the issuance of option grants, and non-recurring reserve and severance expenses, as well as a decrease in other income of $0.1 million.
Clinical Program Progress VenoValve®: Novel, First-In-Class Surgical Replacement Venous Valve
Amended VenoValve PMA application in response to formal questions from U.S. Food and Drug Administration (FDA)
Continue to respond to FDA questions and inquiries as they arise
Presented positive interm, two-year data at Society for Vascular Surgery (SVS) 2025 Vascular Annual Meeting
Successfully completed final wave for the shorter-term subjects in 6-month pre-clinical GLP study
Awaiting final pathology form the GLP study
Successfully completed other testing necessary for IDE filing
IDE filing for enVVe pivotal trial on track for 2H’2025
President Trump CVI Diagnosis Following President Trump’s recent diagnosis of what appears to be moderate CVI, Dr. Marc Glickman, Senior Vice President and Chief Medical Officer of enVVeno Medical was featured in several national television news segments, podcasts, radio reports, and news articles, including Fox News, NewsMax, Morning Wire, and the N.Y. Post. To view this media, click here.
About enVVeno Medical Corporation enVVeno Medical (NASDAQ:NVNO) is an Irvine, California-based, late clinical-stage medical device Company focused on the advancement of innovative bioprosthetic (tissue-based) solutions to improve the standard of care for the treatment of deep venous disease. The Company’s lead product, the VenoValve®, is a first-in-class surgical replacement venous valve being developed for the treatment of deep venous Chronic Venous Insufficiency (CVI). The Company is also developing a non-surgical, transcatheter based replacement venous valve for the treatment of deep venous CVI called enVVe®. Both the VenoValve and enVVe are designed to act as one-way valves, to help assist in propelling blood up the leg, and back to the heart and lungs. The VenoValve is currently being evaluated in the VenoValve U.S. pivotal study and the Company is currently performing the final testing necessary to seek approval for the pivotal trial for enVVe.
Cautionary Note on Forward-Looking Statements This press release and any statements of stockholders, directors, employees, representatives and partners of enVVeno Medical Corporation (the “Company”) related thereto contain, or may contain, among other things, certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements identified by words such as “projects,” “may,” “will,” “could,” “would,” “should,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “potential” or similar expressions. These statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties, including those detailed in the Company’s filings with the Securities and Exchange Commission. Actual results and timing may differ significantly from those set forth or implied in the forward-looking statements. Forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company’s control). The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future presentations or otherwise, except as required by applicable law.
SALT LAKE CITY, UT / ACCESS Newswire / July 31, 2025 / tZERO, a pioneer in digitally-native capital markets infrastructure, will launch the tZERO Chain, a next-generation blockchain purpose-built for the compliant issuance, trading and settlement of tokenized real-world assets (RWAs). The launch will also introduce the $TZERO utility token, which will serve as the core transaction and incentive layer for the network.
Leveraging over a decade of leadership in compliant digital securities, tZERO is establishing a blockchain ecosystem that bridges traditional financial markets with the programmable efficiency of decentralized infrastructure. tZERO has long been a pioneer in securities tokenization, and, together with its subsidiaries, operates a leading suite of regulated infrastructure. This includes one of only two special purpose broker-dealers in the U.S. authorized to self-custody digital asset securities and provide clearing for other broker-dealers. tZERO also operates an alternative trading system (ATS), an introducing broker-dealer, a broker-of-record/placement agent for primary capital raisings, and a transfer agent. tZERO is backed by Intercontinental Exchange (ICE), a Fortune 500 company and leading global provider of financial technology and data services, and parent company of the New York Stock Exchange.
Real-world asset tokenization is projected to grow into a multi-trillion-dollar market. Industry reports estimate that over $10 trillion in assets could be tokenized by 2030, including securities, private credit, real estate, collectibles, and luxury goods.
The tZERO Chain is purpose-built to serve a broad spectrum of market participants – including broker-dealers, investment platforms, asset managers, and regulated issuers – with a focus on compliance, scalability, and composability. The network is expected to launch with up to $1 billion in tokenized assets across multiple categories, including tokenized securities, alternative investments, institutional-grade funds, and yield-bearing stablecoin securities. Momentum is expected to accelerate through integrations with regulated financial platforms and tokenization partners.
“Over the past decade, we’ve helped shape the evolution of digital securities and regulated market structure,” said David Goone, CEO of tZERO. “The tZERO Chain is a natural progression of our vision – a compliant, performant, and interoperable blockchain network designed from day one for the tokenization of real-world assets at scale.”
tZERO envisions a future where everything of value can be tokenized – not just securities and funds, but also alternative and illiquid assets such as fine art, classic cars, rare watches, vintage wine, luxury collectibles, real estate, intellectual property, and more. The tZERO Chain is being built to support this universal tokenization thesis on a secure, regulation-friendly platform that integrates natively with common DeFi protocols, expanding global distribution, composability, and liquidity access for compliant digital assets.
Key features of the tZERO Chain include:
Hybrid Public-Permissioned Architecture: Combines open EVM-compatible infrastructure with embedded compliance logic to support both DeFi and regulated finance.
Integrated Regulated Market Infrastructure: Interoperable with the ecosystem operated by tZERO’s broker-dealer subsidiaries in the U.S., including ATS, custody and settlement, as well as transfer agent services.
Cross-Chain Interoperability: Allows tokenized assets to be used, traded, and settled across other leading blockchains – bringing real-world assets into the broader Web3 ecosystem, in compliance with applicable regulations.
DeFi-Enabled RWA Composability: Turns real-world assets into first-class DeFi assets – available for lending, trading, staking, and yield generation.
On-Chain Market Data Layer: Built-in oracles deliver proprietary pricing and analytics for alternative assets such as fine art, collectibles, and luxury goods.
Patent-Protected IP: Enforceable patents for real-time settlement and compliant tokenization provide a defensible technology moat.
The tZERO Chain introduces a novel hybrid model – combining controlled infrastructure with open access for builders and compliant asset issuers. Developers can build on familiar Ethereum tooling while accessing modules for identity verification, compliance disclosures, and asset governance.
“There hasn’t been a blockchain truly purpose-built for compliant asset tokenization – until now,” said tokenization pioneer Stephane De Baets. “With the launch of tZERO Chain and the $TZERO token, we finally have the infrastructure to tokenize real estate and other real-world assets at scale.”
The $TZERO token will be launched as a core part of the network’s infrastructure, powering transactions, smart contracts, governance, and incentives for participants across both traditional and decentralized finance. Details on tokenomics, infrastructure access, and issuance partners will be released in the coming weeks.
This milestone builds upon tZERO’s legacy as a leader in the tokenization of traditional assets and comes at a time when institutional and regulatory interest in blockchain-based infrastructure has reached an inflection point.
tZERO Group, Inc. (tZERO) and its broker-dealer subsidiaries provide an innovative liquidity platform for private companies and assets. We offer institutional-grade solutions for issuers looking to digitize their capital table through blockchain technology, and make such equity available for trading on an alternative trading system. tZERO, through its broker-dealer subsidiaries, democratizes access to private assets by providing a simple, automated, and efficient trading venue to broker-dealers, institutions, and investors. All technology services are offered through tZERO Technologies, LLC. For more information, please visit our website.
About tZERO Digital Asset Securities
tZERO Digital Asset Securities, LLC is a broker-dealer registered with the SEC and a member of FINRA and SIPC. It is the broker-dealer custodian of all digital asset securities offered on tZERO’s online brokerage platform. It operates in accordance with the SEC’s statement, dated December 23, 2020, regarding the Custody of Digital Asset Securities by Special Purpose Broker-Dealers. Digital asset securities may not be “securities” as defined under the Securities Investor Protection Act (SIPA)-and in particular, digital asset securities that are “investment contracts” under the Howey test but are not registered with the Securities and Exchange Commission are excluded from SIPA’s definition of “securities”-and thus the protections afforded to securities customers under SIPA may not apply. More information about tZERO Digital Asset Securities may be found on FINRA’s BrokerCheck.
About tZERO Securities
tZERO Securities, LLC is a broker-dealer registered with the SEC and a member of FINRA and SIPC. It is the operator of the tZERO Securities ATS. More information about tZERO Securities may be found on FINRA’s BrokerCheck.
About tZERO Transfer Services
tZERO Transfer Services, LLC is an SEC-registered transfer agent. More information about tZERO Transfer Services may be found on Edgar.
Investor Notice
Digital asset securities, as well as any particular investment, may not be suitable or appropriate for everyone. Investors should note that investing or trading in securities could involve substantial risks, including no guarantee of returns, costs associated with selling and purchasing, and no assurance of liquidity which could impact their price and investor’s ability to sell, and possible loss of principal invested. There is always the potential of losing money when you invest in securities. There are also unique risks specific to digital asset securities, including, without limitation, fraud, manipulation, theft, and loss. Please see our disclosure library for more information.
No Offer, Solicitation, Investment Advice or Recommendations
This release is for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation for any security or other asset (including the potential $TZERO token), nor does it constitute an offer to provide investment advisory or other services by tZERO or any of its affiliates, subsidiaries, officers, directors or employees. No reference to any specific security or another asset constitutes a recommendation to buy, sell, or hold that security or asset or any other security or asset. Nothing in this release shall be considered a solicitation or offer to buy or sell any security, future, option or other financial instrument or to offer or provide any investment advice or service to any person in any jurisdiction. Nothing contained in this release constitutes investment advice or offers any opinion with respect to the suitability of any security or other asset, and the views expressed in this release should not be taken as advice to buy, sell or hold any security or other asset. In preparing the information contained in this release, we have not taken into account the investment needs, objectives, and financial circumstances of any particular investor. This information has no regard to the specific investment objectives, financial situation, and particular needs of any specific recipient of this information and investments discussed may not be suitable for all investors. Any views expressed in this release by us were prepared based upon the information available to us at the time such views were written. Changed or additional information could cause such views to change. All information is subject to possible corrections. Information may quickly become unreliable for various reasons, including changes in market conditions or economic circumstances.
Forward-Looking Statements
This release contains forward-looking statements. In addition, from time to time, tZERO, its subsidiaries, or its representatives may make forward-looking statements orally or in writing. These forward-looking statements are based on expectations and projections about future events, which is derived from currently available information. Such forward-looking statements relate to future events or future performance, including financial performance and projections; growth in revenue and earnings; and business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including, without limitation: the ability of tZERO and its subsidiaries to change the direction; tZERO’s ability to keep pace with new technology and changing market needs; performance of individual transactions; regulatory developments and matters; and competition. These and other factors may cause actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this release and other statements made from time to time by tZERO, its subsidiaries or their respective representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions. tZERO, its subsidiaries, and its representatives are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this release and other statements made from time to time by tZERO, its subsidiaries or its representatives might not occur.
BOSTON, MA / ACCESS Newswire / July 31, 2025 / Radius Pharmaceuticals, Inc., a wholly owned subsidiary of Radius Health, Inc. (“Radius” or the “Company”), a specialty biopharmaceutical company focused on bone health and related areas, announced today that the U.S. District Court for the District of Massachusetts has ruled in favor of Radius and co-plaintiff Ipsen Pharma S.A.S. (“Ipsen”) in a patent infringement suit against Orbicular Pharmaceutical Technologies Private Ltd. (“Orbicular”) for their proposed generic for TYMLOS® (abaloparatide) for osteoporosis. Radius and Ipsen prevailed, and the court upheld the validity of all five TYMLOS® patents asserted, in which the latest to expire will remain in effect through April 30, 2038.
The suit was brought by Radius and Ipsen in September 2022 alleging patent infringement by Orbicular in their attempt to seek FDA approval to market a generic abaloparatide product. Radius asserted that Orbicular’s proposed generic product would infringe five patents held by Radius.
The favorable ruling reinforces the strength of the TYMLOS® patent portfolio and represents an important win for Radius.
About Radius:
Radius is a global biopharmaceutical company dedicated to transforming the future for underserved, global patient populations in bone health and related areas. Radius’ lead product, TYMLOS® (abaloparatide) injection, a parathyroid hormone related peptide, is approved by the U.S. Food and Drug Administration for the treatment of postmenopausal women and men with osteoporosis at high risk for fracture (defined as a history of osteoporotic fracture or multiple risk factors for fracture) or patients who have failed or are intolerant to other available osteoporosis therapy. Abaloparatide is supplied as a single-patient multi-use prefilled pen designed to subcutaneously administer 80 micrograms per dose over a 30-day period. For additional information, please visit www.TYMLOS.com.
