Big dreams, big pay and a big IPO: Mod­er­na lights up a pitch for a record $500M biotech IPO

Mod­er­na’s ex­ec­u­tive team nev­er does any­thing small — or non-con­tro­ver­sial.

They’ve built a biotech uni­corn with a $7.5 bil­lion val­u­a­tion with­out any­thing close to piv­otal da­ta to back up their am­bi­tions in mes­sen­ger RNA. A le­gion of crit­ics, led by Stat News, has poked at their busi­ness mod­el and as­pi­ra­tions. And the ju­ry is still out on whether or not the mR­NA com­pa­nies that have at­tract­ed at­ten­tion in the field can do what they say they can do — at least in a rea­son­able time frame for com­mer­cial­iza­tion.

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