BioCentury
ARTICLE | Financial News

Moderna loses $1.4B in trading debut

December 7, 2018 5:57 PM UTC

Moderna Inc. (NASDAQ:MRNA) tumbled out of the gate on Friday, 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.

The mRNA company set the record Thursday for the largest NASDAQ IPO for a biotech when it raised $604.3 million in an upsized offering through the sale of 26.3 million shares at $23. The deal gave Moderna a postmoney valuation of $7.6 billion (see “Moderna Sets IPO Record with Upsized $604M Offering”)...

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Moderna Inc.