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Moderna (MRNA) has been a classic example of how one successful product can propel a biotech stock to new heights in a matter of months.
Before developing its COVID-19 vaccine, Moderna had no approved products. However, its success with the vaccine led to a staggering 443.2% stock surge in 2020. Despite growing interest in mRNA therapies, Moderna’s stock has been on a downward trajectory since then.