Forget COVID: Moderna Is Turning Into a Cancer Company -- and Wall Street Is Taking Notice
Moderna (NASDAQ: MRNA) leaped into the spotlight during the early days of the pandemic, and that was because the up-and-coming biotech player had a solution to the problem: a vaccine. The company became one of the first to launch a coronavirus vaccine, rivaling pharma giants such as Pfizer , and generated blockbuster revenue from the product. At the vaccine's peak in 2022, it brought in more than $18 billion in revenue and made Moderna profitable. Recent years have been difficult, however, as demand for the vaccine declined. The company saw revenue drop, swung to a loss, and its stock price, once soaring in the triple digits, followed. But Moderna may be entering a new period of growth and success right now. Over the past few years, the company has taken steps to address its problems and has focused its pipeline on a particularly high-growth therapeutics market: oncology. Importantly, investors have recognized Moderna's potential, helping the stock soar more than 600% this year. Continue reading