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Some additional thoughts and comments on Moderna, its coronavirus vaccine, the stock’s valuation and Monday night’s $1.3 billion stock sale:

Of course, Moderna raised money. It was only one week ago that I described Moderna’s $23 billion enterprise value as “astonishingly high” for a company with no approved products and no appreciable revenue. Monday, it was $29 billion, with the stock reaching another all-time high of $80 per share, or four times the price from the beginning of the year.


I’ll say it again. Moderna has become biotech’s Tesla.

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