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Moderna raises $604M in record IPO, loses $1.4B in trading debut

Moderna Inc. (NASDAQ:MRNA) tumbled out of the gate on Dec. 7, losing $4.40 (19%) to $18.60 in its trading debut for a loss of $1.4 billion in market cap as U.S. stocks across the board closed sharply lower.

On Dec. 6, the mRNA company set the record for the largest NASDAQ IPO for a biotech when it raised $604.3 million in an upsized offering

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