Moderna sets IPO record with upsized $604M offering

Brushing aside market volatility that has led several biotechs to miss their desired valuations in recent weeks, Moderna Inc. (NASDAQ:MRNA) raised $604.3 million in an upsized IPO late Thursday through the sale of 26.3 million shares at $23. The deal, which values the mRNA company at $7.6 billion, sets the record for the largest NASDAQ IPO for a biotech.

The stock is expected to begin trading on Friday. ...