Big Number
$51.5 billion. That’s Moderna’s market valuation as of Thursday, marking a more than $18 billion decline from Wednesday’s closing valuation of $69.6 billion.
Read more USS Abraham Lincoln Is Coming Home, Report Says
Surprising Fact
Moderna’s record-setting stock surge made co-founder Thomas Langer a billionaire once again, raising his roughly 3% stake in the firm from $730 million on Tuesday to about $1.7 billion on Wednesday. Fellow co-founder Noubar Afeyan’s net worth jumped $184 million to $2.2 billion, and CEO Stéphane Bancel’s fortune rose $2.5 billion to $5.8 billion. Afeyan’s net worth fell $105 million to $2.1 billion on Thursday, and Bancel’s fell by $1.3 billion to $ 4.4 billion.
Key Background
Leerink Partners analyst Mani Foroohar wrote in June that Moderna’s late-stage cancer vaccine trial would be a make-or-break event for its stock, with the potential for the experimental drug to work across multiple types of cancer. Merck and Moderna have said they are looking into several trials of the vaccine for other cancers, including non-smallcell lung cancer and bladder cancer. Moderna’s business boomed from the success of its mRNA-based COVID-19 vaccine, though it posted a net loss of $782 million on revenue of $145 million through its latest quarter.
Read more Rapper Lil Durk’s Murder-For-Hire Trial Begins Today: Here’s What We Know
Further Reading
Moderna Shares Skyrocket 125% Toward Best Day Ever—On Success Of Cancer Drug Trial (Forbes)
Moderna Co-Founder Robert Langer Is A Billionaire Again As Shares Double In Value (Forbes)
Read more Lindell Says He’ll Pay For Recount After Losing Minnesota Race—As Trump Stays Silent