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Finance Watch: Moderna Capitalizes On COVID-19 Vaccine Data Value Boost

 
• By Mandy Jackson

Public Company Edition: Moderna leveraged its all-time high stock price to raise $1.34bn on the same day it reported data from a Phase I trial of its COVID-19 vaccine. Several other companies also took advantage of biopharma’s rising value.

Finance Watch

All eyes are on the biopharmaceutical industry as the world waits for an end to the COVID-19 pandemic, hopefully through a vaccine against the novel coronavirus. Investors are putting their money behind drug developers with any amount of potential to thwart COVID-19 – including Moderna Inc. with its recent $1.34bn stock offering – which is contributing to soaring biopharma values despite the toll that the coronavirus is taking on the global economy. 

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