Market Watch:
EDITOR’S NOTE: “In January 2020, Moderna announced development of a vaccine to inhibit COVID-19 in competition with Gilead, Vaxart, Inovio, Novamax. In March 2020, the Phase I human study of the vaccine candidate began in partnership with the US NIAID.” <- ANTHONY FAUCI Wikipedia
Moderna MRNA, +6.45% went public in late 2018, bursting onto the Wall Street scene as the biggest biotech IPO in history. Timothy Springer, a Harvard medical-school professor, saw his stake in the company fatten his bottom line by a whopping $320 million by the end of the trading day.
After that, he really got rich.
Less than two years later, and the 72-year-old has ridden a 17,000% return in his Moderna shares — which he paid about $5 million for in the company’s early stages — into the billionaire club, according to the latest figures from the Bloomberg Billionaires Index.
The Cambridge, Mass., biotech has jumped 162% this year, as of Wednesday’s close, surging on hopes for its mRNA-1273 coronavirus vaccine, one of the first to begin human trials.
