CASBF - Moderna Inc.: Trial Uncertainty Risks Peak Valuation
Investment Thesis
The stakes have never been higher for Moderna, Inc. (MRNA) as it battles a myriad of competitors in the race for a successful COVID-19 vaccine. The long and arduous process of vaccine development and testing has slim monetary gains and a low chance of success. Despite a record-breaking phase in initial testing, the company’s novel and largely unproven technology has already been trumped by the competition in late-stage trials and the financially powerful biopharma companies have announced far more ambitious timelines for their vaccine launch.
As competitors advance proven technologies in