Moderna
Pays vs peer median
×0.79
-21% premium
Sample
17
high confidence
Last refreshed
2026-04-13
By therapeutic area
| Therapeutic area | Premium | Deals |
|---|---|---|
| oncology | ×0.74 | 16 |
By stage at signing
| Phase | Premium | Deals |
|---|---|---|
| phase 3 | ×0.73 | 5 |
| approved | ×1.50 | 4 |
| phase 1 | ×0.70 | 3 |
| discovery | ×0.70 | 3 |
Recent disclosed deals
| Year | Asset | Licensor | Indication | Phase | Upfront | Total |
|---|---|---|---|---|---|---|
| 2026 | LNP patent license (settlement) | Genevant/Arbutus | COVID-19 and mRNA vaccine platform | approved | $950M | $2.3B |
| 2025 | Anti-GPC3-001 | ORIC Pharmaceuticals | Breast (HR+) | discovery | $14M | $249M |
| 2025 | Anti-DLL3-301 | Springworks Therapeutics | Gastric | phase_3 | $799M | $3.3B |
| 2025 | BCMA-001 | Hengrui Medicine | Breast (HR+) | phase_1 | $85M | $561M |
| 2025 | B7-H4-tinib | Umoja Biopharma | Endometrial | phase_2 | $246M | $1.9B |
| 2025 | MEK-301 | Blueprint Medicines | Gastric | approved | — | $306M |
| 2025 | PD-L1-101 | Alphamab Oncology | Follicular Lymphoma | phase_2 | $624M | $5.0B |
| 2025 | B7-H4-201 | Argenx | RCC | phase_3 | $576M | $2.9B |
| 2025 | ROS1 | Tango Therapeutics | CLL | phase_3 | $975M | $6.1B |
| 2025 | B7-H3-mab | Ono Pharmaceutical | Pancreatic | discovery | $10M | $148M |
| 2025 | PD-1-001 | Innovent Biologics | Head & Neck | discovery | $8M | $101M |
| 2025 | LAG-3-301 | Agenus | AML | discovery | $26M | $246M |
| 2025 | Anti-CD47-mab | BeiGene | Breast (TNBC) | approved | $3.7B | $15.1B |
| 2024 | MUC16-tinib | CytomX Therapeutics | NSCLC | preclinical | $86M | $1.4B |
| 2024 | Anti-B7-H3-tinib | Springworks Therapeutics | Prostate | phase_3 | $731M | $4.9B |
How this is computed
For each Moderna deal we find the median total deal value of comparable transactions (same therapeutic area + phase, falling back to TA-only with ≥3 peers). The buyer’s deal divided by the peer median is the per-deal premium. We trim outliers, take the trimmed mean, and clamp to [0.7×, 1.5×] to reject data errors. Confidence scales with sample size.
Trimmed mean of 17 disclosed deal premiums vs. peer medians. Raw premium 0.792, clamped to [0.7, 1.5].