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Moderna Stock Overview (NASDAQ:MRNA) – All You Need to Know About Moderna Inc

TABLE OF CONTENTS

Moderna Stock Overview (NASDAQ:MRNA) – All You Need to Know About Moderna Inc

Moderna Stock Overview (NASDAQ:MRNA) – All You Need to Know About Moderna Inc

Vantage Updated Updated Fri, 2024 January 26 11:24

About Moderna Inc

History of the company [1,2,3]

Moderna, Inc. is a biotechnology company that has played a pivotal role in the development and production of mRNA-based vaccines and therapeutics. It was founded in 2010 by Derrick Rossi, Robert Langer, Kenneth R Chien, and venture capitalist Noubar Afeyan.

The company’s story begins with the breakthrough discovery by founder Rossi of mRNA, or messenger RNA, as a potential tool for developing innovative therapies. mRNA acts as a messenger molecule that carries instructions from DNA to produce proteins in cells. Moderna recognized the transformative potential of this technology and set out to harness it for medical applications.

In 2015, the company developed the first-in-human dose of an mRNA vaccine, an H10N8 flu vaccine candidate, effectively adding up a new class of vaccines to the therapeutic toolbox of healthcare providers. This was followed in 2017 by Moderna initiating the first-in-human dosing of a multivalent vaccine, a combination vaccine with the potential to protect against more than one disease – human metapneumovirus (hMPV virus) and parainfluenza virus. 

The next breakthrough by the company occurred in 2019, when it announced the dosing of the first antibody encoded by mRNA in a clinical trial. After promising result shown by its COVID-19 candidate, mRNA-1273 in a March 2020 clinical trial, the US Center for Disease Control’s (CDC) put forth a recommendation for the use of the Moderna COVID-19 vaccine in people 18 years of age and older in the U.S. 

By 2022, Moderna had received full approval from the U.S. The U.S. Food and Drug Administration (FDA) for the use of SPIKEVAX (COVID-19 Vaccine, mRNA) to prevent COVID-19 in individuals 18 years of age and older in the U.S.

This propelled the growth and visibility of Moderna Inc, while bringing widespread attention to the potential of mRNA vaccines.

The success of the COVID-19 vaccine propelled Moderna’s growth and visibility. The company ramped up its manufacturing capabilities and collaborated with governments and organisations worldwide to ensure widespread distribution of its vaccine. Moderna’s vaccine demonstrated high efficacy rates in preventing COVID-19, contributing to its global adoption and acceptance.

Beyond the COVID-19 vaccine, Moderna continues to explore the potential of mRNA technology for other therapeutic applications. The company is actively pursuing the development of mRNA-based therapies for a range of diseases, including cancer, cardiovascular conditions, rare genetic disorders, and autoimmune diseases.

Moderna’s innovative approach and groundbreaking achievements have positioned it as a key player in the biotechnology industry. Its success in developing and deploying the mRNA-based COVID-19 vaccine has not only saved lives but also highlighted the transformative power of mRNA technology in the field of medicine.

Business segments [4]

Moderna is focused on the research, development and manufacture of mRNA vaccines targeted at various human diseases. At present, the company is working on several vaccines and treatments that are at varying trial stages. 

Besides vaccines for COVID-19, influenza and other infectious diseases, Moderna is also developing treatments for HIV, Norovirus, Lyme disease, Zika, Nipah and certain cancers. Also in the pipeline are therapeutics with regenerative, systemic intracellular and inhaled pulmonary applications.

The company is headquartered in Cambridge, Massachusetts, U.S and has a total staff strength of around 3,900 [5].

About the stock MRNA

MRNA trading information

  • Primary exchange: NASDAQ
  • Ticker: MRNA
  • Country: U.S. 
  • Currency: USD
  • Trading hours:
    • Main: 9.30am to 4pm ET, Mon to Fri
    • Pre-market: 4am to 9.30am
    • After-market: 4pm to 8pm 

When was MRNA listed?  

Moderna Inc launched its IPO on 6 Dec 2018. The stock was listed in the NASDAQ under the ticker symbol MRNA, at a price of USD 23 per share [6].

At the time of writing, the closing price of the stock is USD 127.71 on May 31, 2023, which represents a return of approximately 5.55 times [7].

Stock splits and dividends 

MRNA has not undergone any stock splits since listing. It also does not currently pay a dividend. 

The estimated number of shares outstanding for MRNA is 0.405 billion for the quarter ending31 March 2023 [8].

 Moderna stock

Latest developments investors should note 

Q1 2023 earnings report outperformed expectations [9]

For the first quarter of 2023, Moderna reported total revenue of USD 1.9 billion, significantly lower than the USD 6.1 billion generated in the same period last year. Unsurprisingly, this is due to reduced demand for its COVID-19 vaccines, which is the company’s only marketable product at present. 

Despite this, Q1 2023 results outperformed Wall Street expectations with an unexpected quarterly profit. The company posted net income of USD 79 million, driving diluted earnings-per-share (EPS) to USD 0.19. Analysts had earlier predicted revenue for the quarter would be USD 1.18 billion, and negative EPS of USD 1.77. 

Moderna noted that it is on track to fulfil earlier guidance of USD 5 billion in total revenue for the year. “We are encouraged by the progress of new COVID-19 vaccine contracts in the U.S. for this fall with pharmacy chains, hospital networks and multiple U.S. government agencies. 

“Similar discussions are ongoing with Japan, the EU, and other key markets such as Australia, which recently ordered additional COVID-19 vaccines,” said CEO Stéphane Bancel [10].

Trade MRNA with Vantage 

Vantage offers convenient and secure trading of MRNA and other leading stocks. With share Contracts for Difference (CFDs), traders can access trading opportunities on price movements in all directions, without having to own the underlying asset.
Trade MRNA with zero commission using Vantage share CFDs. Sign up and start trading today!

References

  1. “Fact check: Dr. Fauci was not the first CEO and other false claims about biotech company Moderna – Reuters” https://www.reuters.com/article/uk-factcheck-moderna-fauci-gates-idUSKBN25S5GD Accessed 2 June 2023
  2. “The Vaccine Godfather: Meet the Canadian Who Helped Pioneer mRNA Technology – Canadian Business” https://canadianbusiness.com/people/derrick-rossi-moderna-mrna/ Accessed 2 June 2023
  3. “About us – Moderna Inc” https://www.modernatx.com/about-us/our-story Accessed 2 June 2023
  4. “Research – Moderna Inc” https://www.modernatx.com/research/product-pipeline Accessed 2 June 2023
  5. “Moderna Inc – Google Finance” https://www.google.com/finance/quote/MRNA:NASDAQ?window=MAX Accessed 2 June 2023
  6. “If You Invested $10,000 in Moderna’s IPO, This Is How Much Money You’d Have Now – The Motley Fool” https://www.fool.com/investing/2020/12/22/if-you-invested-10000-in-modernas-ipo-this-is-how/ Accessed 2 June 2023
  7. “Moderna Inc – Yahoo! Finance” https://finance.yahoo.com/quote/MRNA/history?p=MRNA Accessed 2 June 2023
  8. “Moderna Shares Outstanding 2017-2023 | MRNA – Macrotrends” https://www.macrotrends.net/stocks/charts/MRNA/moderna/shares-outstanding Accessed 2 June 2023
  9. “MODERNA REPORTS FIRST QUARTER 2023 FINANCIAL RESULTS AND PROVIDES BUSINESS UPDATES – Moderna” https://investors.modernatx.com/news/news-details/2023/Moderna-Reports-First-Quarter-2023-Financial-Results-and-Provides-Business-Updates/default.aspx Accessed 2 June 2023
  10. “Moderna Reports First Quarter 2023 Financial Results and Provides Business Updates – Seeking Alpha” https://seekingalpha.com/pr/19318344-moderna-reports-first-quarter-2023-financial-results-and-provides-business-updates Accessed 2 June 2023
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