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Moderna Doubled on a Phase 3 Readout. The Business Underneath It Books $2.2 Billion a Year and Burns $1.2 Billion.
The INTerpath-001 melanoma readout and the mFLUSIVA approval added about $27.8 billion of market value in a morning — 12.5x Moderna's trailing revenue and 2.5x everything it has burned since the start of 2023. Neither event is in the revenue line, and the revenue line grew 2%.
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