Moderna Plans to Raise $1.25 Billion in a Secondary Offering

Taking advantage of its monstrous 339% share price gain this year, including today's 20% gain on promising phase 1 data for its COVID-19 vaccine mRNA-1273, Moderna (NASDAQ: MRNA) plans to raise a whopping $1.25 billion selling shares in a secondary offering. The biotech expects to give the underwriters a 30-day option to purchase up to an additional $187.5 million in shares, so the total amount raised could be in excess of $1.4 billion.