Published on 28 May 2024 on Zacks via Yahoo Finance
Moderna (MRNA) Stock Outperformed Industry YTD: Here's Why
Despite the declining top line, shares of Moderna MRNA continue to soar thanks to its encouraging pipeline updates and potential product launches over the next few years.
The company boasts of a pipeline of more than 40 mRNA-based investigational candidates across different stages of development, targeting multiple indications, including cancer and cardiovascular. Being one of the handful of makers of a COVID-19 vaccine, Moderna reaped the benefits of the COVID-19 pandemic, allowing it to strengthen its cash position significantly. This cash balance is helping management make increased investments in R&D to not only expand the company’s pipeline but also support its expected new product launches.