Moderna Inc

MRNA: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$765.00	Ltnv	Fqbzqpk

Moderna's mRNA Technology Is Supporting a Broad Pipeline Beyond COVID-19

Karen Andersen

Dec 8, 2023

Business Strategy and Outlook

Moderna's mRNA technology has gained rapid validation as sales of its COVID-19 vaccine soared in 2021 and 2022, but we think the firm has yet to secure a narrow economic moat around its business, largely due to uncertainties tied to an evolving virus and the changing competitive landscape for innovative vaccines.

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