Shares in Moderna (MRNA) rose smartly Thursday after the COVID-19 vaccine maker reported better-than-expected earnings and said it was in "active supply discussions" with the European Union.
Explosive demand for the biotechnology firm's coronavirus vaccine allowed MRNA stock to generate outstanding returns during the first year-and-a-half of the pandemic. Shares peaked almost two years ago, however, as global vaccination rates rose and new COVID-19 cases tapered off. As a result, Moderna stock has lost about a quarter of its value in 2023 alone.
