Shares of Moderna (NASDAQ: MRNA) have been plummeting in recent months. As concerns shift from COVID-19 and onto inflation, investors have become less bullish on Moderna's stock. Omicron was a significant variant when it emerged in November, and that prompted Moderna to create a booster shot which targeted that variant.
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.
Pfizer (PFE) and partner BioNTech (BNTX) enter into an agreement with the government of the United States to supply 105 million doses of its mRNA-based COVID-19 vaccine.