Why Moderna Stock Soared Last Week
Shares of Moderna (NASDAQ: MRNA) popped 18% last week, according to data provided by S&P Global Market Intelligence. Investors were encouraged by news of several potential catalysts that could boost the pharmaceutical company's sales and profits.
Moderna came into the week with some positive momentum after fellow drugmaker Pfizer (NYSE: PFE) announced plans to raise the price of its COVID-19 vaccine next year to as much as $130 per shot. That would be a more than fourfold increase from the $30.50 per dose it currently receives from the U.S. government.
The news helped investors better gauge the potential size of the commercial market for the vaccine. The industry is expected to shift from the current government-funded model to a more traditional health-insurance and patient-funded market in 2023.
Source Fool.com
