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Yet there are important intersections. Quantum computers are particularly well suited for simulating complex molecules, which in turn can optimize the development of new drugs. As early as 2023, IBM and Moderna \u2014 two giants from these distinct fields \u2014 took a concrete step toward quantum-based biotech research, aiming to more efficiently evaluate the vast array of possible mRNA sequences. In 2025, this innovative duo is now reaching a new milestone.<\/p>\n\n<p>Last year, a new record in quantum-based simulations was set by predicting the secondary structure of mRNA strands up to 60 nucleotides long \u2014 the essential building blocks of DNA and RNA \u2014 using a computing power of 80 qubits. In July of this year, IBM and Moderna announced plans to increase this performance to as much as 156 qubits by the end of 2025. Moderna\u2019s goal is to use Big Blue\u2019s expertise to build a quantum-powered biotechnology pipeline, enabling a broader range of molecules to be tested. Ultimately, this is expected to give the company a mid-term competitive advantage in the search for new drugs.<\/p>\n\n<h3>Focus on Cancer<\/h3>\n<p>In the short term, Moderna is engaged in an exciting race with rival BioNTech to develop the world\u2019s first mRNA-based cancer vaccine. In the pivot from COVID to cancer immunization, the U.S. biotech company currently holds the lead. At the American Society of Clinical Oncology (ASCO) in Chicago this June, Moderna presented promising study results for its vaccine candidate mRNA-4157, which is used in combination with an immunotherapeutic agent to treat a malignant form of skin cancer. After an observation period of nearly three years, the treatment \u2014 combined with the antibody Keytruda from Merck & Co. \u2014 reduced the risk of cancer recurrence by 49%. Following these positive results, Moderna is seeking accelerated approval of the vaccine in the EU and the U.S. for 2025.<\/p>\n\n<h3>Medicine of Tomorrow<\/h3>\n<p>But Moderna isn\u2019t just focusing on cancer treatment. The company is also conducting research in the fields of influenza and RSV. Most recently, it reported that its new flu vaccine, mRNA-1010, proved to be 26.6% more effective in a Phase 3 study among adults aged 50 and over compared to an approved annual flu shot from competitor GSK. According to experts, this improved efficacy is a necessary step toward gaining approval for a combination vaccine against both flu and COVID. Moderna plans to submit the approval application later this year. Regarding its new COVID-19 vaccine Spikevax, the company has already received positive feedback from the European Medicines Agency. The mRNA-based vaccine is expected to be available for the 2025/26 flu season. Overall, Moderna plans to launch up to ten new products by 2027.<\/p>\n\n<div>\n<generic-chart title=\"Moderna: Earnings per Share (in USD)\">\n  <x-axis categories=\"2022,2023,2024,2025e,2026e,2027e\"/>\n      <chart-column title=\"Earnings per Share in USD\" data=\"20.1,-12.34,-9.27,-10.24,-8.12,-5.21\" format=\"number\"/>\n<\/generic-chart> \n<\/div>\n<footer>Source: Refinitiv, e = expected<br />Historical data is not a reliable indicator of future performance.<\/footer>\n\n<h3>Tightening the Belt<\/h3>\n<p>In an effort to cut costs, the drugmaker headquartered in Cambridge, Massachusetts, plans not to independently carry its experimental vaccines through the late stages of clinical development, but is currently seeking partners. Together, they aim to advance key studies on vaccine candidates for the Epstein-Barr virus, varicella-zoster virus, and genital herpes. Speaking of costs: Moderna has recently tightened its budget significantly, outperforming expectations at the beginning of the year. For the period from January to March, the company reported a loss of USD 2.52 per share, while analysts had expected a loss of USD 3.14. CFO James Mock intends to continue this austerity drive. Operating costs are to be reduced by up to USD 1.7 billion by 2027, to a range of USD 4.7 to 5.0 billion. However, according to analysts' consensus, Moderna is unlikely to return to profitability before 2028 (see chart).<\/p>\n\n<h3>Your Choice: Yield Optimization or Leverage?<\/h3>\n<p>After the decline of the COVID-19 pandemic, Moderna experienced a prolonged dry spell \u2014 both operationally and on the stock market. The stock lost three-quarters of its value over the past three years. Following a bottoming-out, the share is now attempting a comeback. Should this rebound stall again, investors can still achieve attractive returns through Barrier Reverse Convertibles (BRCs). Leonteq has launched two new soft-callable BRCs, one denominated in CHF and the other in USD. The former comes with a 15% annual coupon, while the USD version offers a potential maximum return of 20% p.a. However, unlike traditional BRCs, the coupon is not guaranteed. To receive it (even partially), Moderna stock must trade above the coupon trigger level \u2014 set at 50% of the initial price \u2014 on the quarterly observation dates. This level also serves as the barrier. If the coupon payment is missed on a given date, it is not lost; thanks to the memory mechanism, it can be paid retroactively if the stock trades above the trigger level on a later date. In the event of a barrier breach, the final fixing determines the return. If Moderna is at or below the strike level at maturity, investors will receive the underlying stock in their portfolio. If, however, the stock closes above the strike level at the end of the term, Leonteq repays the full nominal amount. The term can be shortened due to the built-in soft-callable feature: every three months, the issuer has the right to redeem both BRCs early at 100%.<\/p>\n\n<div><generic-chart title=\"Moderna: Share price (in USD)\"> \n    <chart-line title=\"Moderna\" path=\"chart_mrna_jul25.csv\" format=\"date, number\"><\/chart-line> \n    <x-axis type=\"datetime\"><\/x-axis> <\/generic-chart><\/div>\n<footer>Source: Refinitiv, as of 19.07.2025<br />Historical data is not a reliable indicator of future performance.<\/footer>\n\n<p>For those looking to capitalize on Moderna\u2019s current comeback attempt \u2014 the stock has gained more than 20% in the past month \u2014 Leonteq offers a wide selection of leveraged products, including mini futures and knockout warrants. And that's not all: similar leveraged instruments are also available for IBM, Moderna\u2019s quantum computing partner.<\/p>\n\n<h3>Callable Barrier Reverse Convertible with conditional coupon<\/h3>\n<div>  \n    \n    <SavedSearch :allProducts=\"false\" :filter=\"{&quot;partner&quot;:&quot;LEONTEQ&quot;,&quot;currencies&quot;:[],&quot;issuers&quot;:[],&quot;productCategories&quot;:[],&quot;productGroups&quot;:[],&quot;productTypes&quot;:[],&quot;maturityRangeKey&quot;:[],&quot;distanceToBarriers&quot;:[],&quot;barrierLevelRanges&quot;:[],&quot;strikeLevelRanges&quot;:[],&quot;underlyings&quot;:[],&quot;omni&quot;:&quot;\\&quot;CH1292094310\\&quot;,\\&quot;CH1292094328\\&quot;&quot;,&quot;conditions&quot;:{&quot;+snapshot.product.secondary_market:true&quot;:false,&quot;&quot;:true,&quot;+snapshot.product.in_subscription:(\\&quot;LEONTEQ\\&quot;)&quot;:false,&quot;-_exists_:snapshot.product.in_subscription&quot;:false},&quot;marketVenues&quot;:[],&quot;assetClasses&quot;:[],&quot;barrierTypes&quot;:[],&quot;countrySpecificTitles&quot;:[],&quot;sortFields&quot;:[{&quot;fieldName&quot;:&quot;snapshot.product.investment.investment_currency&quot;,&quot;sortOrder&quot;:&quot;ASC&quot;}],&quot;displayColumns&quot;:[&quot;conditionalCoupon&quot;,&quot;underlying&quot;,&quot;barrierPercentage&quot;,&quot;conditionalCouponTriggerLevel&quot;,&quot;currency&quot;,&quot;lastTradingDate&quot;,&quot;tenor&quot;,&quot;bidAsk&quot;,&quot;subscriptionEndDate&quot;,&quot;valor&quot;,&quot;documentLinks&quot;]}\">\n                <\/SavedSearch>\n  <\/div>\n<div><ltq-table id=xxx title=\"Tax treatment Valor 1129209431, 129209432\">\n<tbody>\n<tr>\n<td>Income tax<\/td>\n<td>For natural persons resident in Switzerland who hold the product as private assets, gains realized with this product during the term and upon redemption constitute capital gains and are therefore not subject to direct federal tax.<br/>\n    The cantonal and communal income tax treatment may differ from the tax treatment for direct federal tax purposes. In general, however, the income tax treatment is the same.<\/td>\n<\/tr>\n<\/tbody>\n<\/template> <template v-slot:below=\"\"> <LtqCardBody><footer>This tax information only provides a general overview of the possible Swiss tax consequences associated with this product at the time of issue and is not legally binding. Tax laws and the practice of the tax authorities may change at any time, possibly with retroactive effect.<br/>Source: Termsheet<\/footer><\/LtqCardBody> <\/template> <\/ltq-table><\/div>\n\n\n<h3>Leverage Products on Moderna<\/h3>\n<div>\n    <div>  \n        \n                                                                                                                                                                                                                                                                                                  \n            <leverage-saved-search :columns=\"[ 'engine.isin', 'engine.valor', 'Type', 'Direction', 'engine.underlying', 'engine.currency-abbr', 'Strike', 'Stop Loss', 'Leverage', 'Ratio', 'engine.maturity', 'Bid', 'Ask']\" :filter=\"{&quot;conditions&quot;:{&quot;+calendar.issueDateTime:[* TO now]&quot;:true,&quot;-identification.status:EXPIRED&quot;:true},&quot;underlyings&quot;:[&quot;136449635&quot;],&quot;productTypes&quot;:[&quot;PT_MINI_FUTURE&quot;],&quot;leverage&quot;:{&quot;min&quot;:3.7119999999999997,&quot;max&quot;:9.746}}\" />\n  <\/div>\n<h3>Leverage Products on IBM<\/h3>\n<div>\n    <div>  \n        \n                                                                                                                                                                                                                                                                                                  \n            <leverage-saved-search :columns=\"[ 'engine.isin', 'engine.valor', 'Type', 'Direction', 'engine.underlying', 'engine.currency-abbr', 'Strike', 'Stop Loss', 'Leverage', 'Ratio', 'engine.maturity', 'Bid', 'Ask']\" :filter=\"{&quot;conditions&quot;:{&quot;+calendar.issueDateTime:[* TO now]&quot;:true,&quot;-identification.status:EXPIRED&quot;:true},&quot;underlyings&quot;:[&quot;67114156&quot;],&quot;productTypes&quot;:[&quot;PT_MINI_FUTURE&quot;],&quot;leverage&quot;:{&quot;min&quot;:4.289,&quot;max&quot;:14.454}}\" />\n  <\/div>\n<\/div>\n    <ltq-button color=\"primary\" url=\"https://structuredproducts-ch.leonteq.com/leverageq?language_id=1\" label=\"Discover our Leverage Products!\"><\/ltq-button>\n<div>      <p>We look forward to answering all of your questions about our products and how they are traded. Please don't hesitate to get in touch! Phone: <a href=\"tel:+41588001111\">058 800 11 11<\/a>, email <a href=\"mailto:info@leonteq.com\">info@leonteq.com<\/a> or <a href=\"/contact\" title=\"Contact\">contact us here<\/a>.\n<\/p>\n  <\/div>","url":"coupon-moderna-2025","investmentThemeVerticalImageUrl":"https://structuredproducts-ch-pub-uat.leonteq.com/product-news/sidenav-banner/moderna2025_leonteq-structured-products_sidenav+banner.jpg","thumbnailUrl":"https://structuredproducts-ch-pub-uat.leonteq.com/product-news/thumbnail/moderna2025_leonteq-structured-products_thumbnail.jpg"}
