Can Moderna stock keep its growth momentum?

Moderna Inc (MRNA) has been in the spotlight since the start of the pandemic. Much of its growth in recent months has been driven by its Covid-19 vaccine. Moderna stock has climbed nearly 230 percent during the past 12 months and more than +100 percent so far in 2021.

The company continues to enjoy solid demand for its vaccine. Moderna last month raised the outlook for its Covid-19 vaccine sales by 4.3 percent. It now expects $19.2 billion in vaccine revenue this year, up from its previous forecast of $18.4 billion.

Notable Development

Moderna’s European head Dan Staner recently said that the company hopes to ship the planned Covid-19 vaccines for Germany faster than the original schedule to accelerate the vaccination process in the country, according to German news magazine Wirtschaftswoche.

Staner reaffirmed that Moderna is on its way to deliver nearly 80 million doses this year, according to the agreement with the German health ministry. The company also plans to offer booster shots to those who received their first vaccine in the first two months of 2021.

Separately, Staner said in a statement that Moderna is currently in discussions with the German government to establish a production facility for its mRNA vaccines in the country. He added that the company has similar plans for other European regions.

Bottomline

The success of Moderna’s Covid-19 vaccine has allowed it to allocate more funding to the development of other drugs in its pipeline. The company is looking to diversify its portfolio as the market for Covid-19 vaccines will get crowded over time, leaving less room for growth. In short, the long-term success of Moderna stock depends on its future therapies.