Once a relatively unknown biotech company, (NASDAQ: MRNA) became a household name when it became one of the first companies to offer a vaccine for the COVID-19 virus. At its peak, Moderna saw quarterly revenue of $7 billion as it sold vaccines to the world. Its stock price followed suit, reaching an all-time high of $484 in mid-2021.

As we enter the fourth quarter of 2023, times have changed for Moderna. Revenue in Q2 of 2023 was only $344 million, and the stock price is currently around $100.

But none of this was unexpected. It was clear that once the pandemic receded, vaccine-driven revenue would slow until Moderna was able to bring more products to market. In fact, this pipeline of potential vaccines and therapeutics is exactly what should have investors excited for the future.

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Source Fool.com