BioCentury
ARTICLE | Financial News

Fidelity filings show cut to Moderna's valuation

June 29, 2017 11:53 PM UTC

A comparison of regulatory filings showed Fidelity slashed its valuation of Moderna Therapeutics Inc. (Cambridge, Mass.) by 34%. A filing issued Wednesday said Fidelity valued Moderna at $5.80 per share as of April 30, down from $8.78 as of January 31 as shown in a March filing. A Moderna spokesperson declined to comment, and Fidelity did not respond to inquiries.

Fidelity has continued to invest in Moderna despite a previous cut to the biotech's valuation. A 2016 filing showed Fidelity slashed Moderna's valuation by 25% on Jan. 31 of that year as part of a market-driven revaluation of all its private biotech holdings. The firm participated in Moderna's $474 million venture round later in the year (see BioCentury, Sept. 12, 2016). ...

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