The Rise & Fall Of Moderna

Moderna had a meteoric rise, with its mRNA technology one of a number of vaccines that helped ease lockdowns worldwide. That technology made the company a fortune: in just over a year, quarterly revenue skyrocketed from a modest $150 million to more than $7 billion.

Shares in the company were trading down as much as 18% earlier today after announcing plans to slash $1.1 billion in annual R&D expenses while delaying its breakeven target to 2028 (from 2026), capping a brutal return to Earth for the once high-flying company.

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