Prior to the pandemic, Moderna (NASDAQ: MRNA) was like many other small biotechs. In fact, for the full year of 2019, Moderna had only $60 million in revenue, entirely from collaborations and grants, and it posted a net loss of $514 million. As we know, Moderna's ability to rapidly produce a vaccine for the COVID-19 virus changed the financial prospects for the company and put it in a completely different position today.
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