NEW YORK — Moderna (MRNA) is gathering investors here Thursday to showcase scientific evidence demonstrating that injections of the company’s custom-built messenger RNA are capable of turning the body’s own cells into medicine-making factories.
The new data being presented from two programs targeting cytomegalovirus (CMV) infection and the mosquito-borne chikungunya virus are preliminary, but they still go further than ever before to prove Moderna’s mRNA technology can create effective drugs and vaccines. However, heart-related side effects seen in a single chikungunya study participant also raise questions about the safety of its mRNA-based medicines.
Up to this point, Moderna has been most successful — perhaps infamous — for raising billions of dollars from private investors, and then pushing through the largest initial public offering in biotech history. But Moderna’s stock price has slumped 30% since the $600 million IPO last December, wiping out around $2 billion in market value.
This article is exclusive to STAT+ subscribers
Unlock this article — plus daily coverage and analysis of the biotech sector — by subscribing to STAT+.
Already have an account? Log in
Already have an account? Log in
About the Author Reprints
To submit a correction request, please visit our Contact Us page.
STAT encourages you to share your voice. We welcome your commentary, criticism, and expertise on our subscriber-only platform, STAT+ Connect