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Moderna shares jump 177% on shift toward cancer work
The New York Times reports that Moderna’s stock surged by 177% as the company’s business narrative shifted away from Covid-19 vaccines and toward cancer-related development.
The outlet said Moderna’s fortunes had previously deteriorated as demand for Covid-19 shots fell, leaving investors to reassess the company’s next growth drivers.
The report characterizes Moderna as actively working on its new direction despite the earlier vaccine demand slump.
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