TL;DR
A biotechnology label does not establish commercial cash generation or clinical success. Across fiscal 2023 through 2025, Regeneron had positive source free cash flow while Moderna’s remained negative and its revenue declined. Regeneron’s own operating profit fell despite revenue growth, making margins worth examining. Use the industry screen to find business exposure, then state any cash-flow or profitability filter separately and check fiscal periods and original disclosures.
See the screen in NexusTrade
The captured product view uses industry=biotechnology, Market Cap and Descending. On October 10, 2026 it displayed 100 matches. That is the number shown by this view, not a claim that it covers every listed company.
The image records the interface and company matches at capture time. Prices and ratios are stored observations; the capture date is not their market date. Open the current company profile and check its observation dates before using those figures.
Does growing commercial cash support the biotechnology thesis?
Regeneron and Moderna illustrate different commercial trajectories. Regeneron had positive source FCF across all three periods; Moderna had negative source FCF while revenue declined.
Test the exposure with reported financials
Exact source FCF values in USD billions for fiscal 2023–2025. These whole-company cash measures do not estimate clinical success. Full statement values and periods remain in the table.
Show the table · 6 rows, 5 columns
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| REGN · 2023-12-31 | $13.117B | $4.047B / 30.85% | $3.954B | $3.875B |
| REGN · 2024-12-31 | $14.202B | $3.991B / 28.10% | $4.413B | $3.665B |
| REGN · 2025-12-31 | $14.343B | $3.578B / 24.95% | $4.505B | $4.080B |
| MRNA · 2023-12-31 | $6.848B | −$4.239B / -61.90% | −$4.714B | −$3.825B |
| MRNA · 2024-12-31 | $3.236B | −$3.945B / -121.91% | −$3.561B | −$4.055B |
| MRNA · 2025-12-31 | $1.944B | −$3.074B / -158.13% | −$2.822B | −$2.065B |
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Operating margin = operating income ÷ revenue. Not returned means missing, never zero. Source FCF definitions require the reconciliation below.
Read-only NexusTrade sec_edgar fundamentals retrieved October 12, 2026 and checked against the original annual statements. Amounts below are USD billions; the retained raw response uses USD. These are historical fiscal periods, not a live quote or a forecast.
Apply the condition and explain the result
Reported inputs
Regeneron revenue moved $13.117B → $14.202B → $14.343B; operating profit moved $4.047B → $3.991B → $3.578B. Flat revenue growth and falling operating profit deserve a margin explanation.
Calculated comparison
Moderna revenue fell $6.848B → $3.236B → $1.944B. Source FCF was −$3.825B → −$4.055B → −$2.065B. A positive-FCF filter fails Moderna for these dates.
What the industry tag cannot establish
Commercial revenue is not a clinical-success probability. Pipeline milestones, collaboration economics, patent life and funding runway need original disclosures. These additional issuer examples do not replace the actual LLY/JNJ/ABBV first rows in the capture.
Reproduce this screen and comparison
Open the actual filter, check its current result dates, then reproduce the financial calculation. An industry-only URL does not silently implement an extra profitability or cash-flow rule. Record any added condition explicitly.
Check fiscal periods and public availability
Inspect every input period, publication date and source
Select FY rows by periodEnd instead of assuming the array is latest first. Source statements may present comparative years in one filing. Their later publication does not prove those exact restated values were available at the earlier historical date.
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| REGN | 2023 | 2023-12-31 | 2024-02-05 | Annual FY, USD |
| REGN | 2024 | 2024-12-31 | 2025-02-05 | Annual FY, USD |
| REGN | 2025 | 2025-12-31 | 2026-02-04 | Annual FY, USD |
| MRNA | 2023 | 2023-12-31 | 2024-02-23 | Annual FY, USD |
| MRNA | 2024 | 2024-12-31 | 2025-02-21 | Annual FY, USD |
| MRNA | 2025 | 2025-12-31 | 2026-02-20 | Annual FY, USD |
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Inspect the business exposure
Inspect the captured screen selection and company links
Investigate the business exposure
Eli Lilly, Johnson & Johnson and AbbVie were the first displayed matches. The classification includes large commercial businesses rather than only companies awaiting their first approval. Further down the captured results, Vertex and Moderna also appeared. Use the business description to choose the kind of biotech exposure you want to investigate.
Make the selection explicit
Inspect the captured screen selection and company links
Check the filter Aurora resolves from your request. Confirm the resolved classification before treating a result as a match. Asking for profitable companies adds a financial condition; this industry-only screen does not silently claim to implement that condition.
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| Biotechnology stocks | industry=biotechnology | Published revenue/product classification |
| Publicly listed universe | Supported company classification catalog | Check listing status on the company profile |
| Review company fundamentals | Company profile and dated daily snapshot | A stored snapshot is not a live quote |
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