In what may now seem like distant memories, Moderna was one of the heroes of the Covid era, bringing their mRNA based Spikevax vaccine to Europe less than a year after lockdowns were first implemented.
The US-based company had gone public on the NASDAQ just a few years earlier in 2018 and broke records as the biggest biotech IPO at the time. This record has since been broken by Sana Biotechnology in 2021, Kailera Therapeutics in early 2026 and most recently by Parabilis Medicines who raised a whopping $670 million on 10 June 2026.
Following a boom in share prices linked to their Covid vaccine, Moderna has seen its valuation continue to drop over the past 5 years. But they are confident that is about to change and results so far in 2026 are showing a hint of optimism.
“COVID happened and so we took a little detour with trying to do our duty to help people… since then [we] went back onto mission,” CEO of Moderna Stéphane Bancel explained.
“We started the company and then went public on this belief that mRNA is a very powerful technology and that over time, we should be able to make medicine in many therapeutic areas: cancer, infectious disease, rare genetic disease and more.”
