Moderna Inc. (MRNA)

Fundamental Equity Case Study

December 9, 2020

Download the Case Study

By completing this form you agree to the processing of your personal information submitted through this form in accordance with CFRA’s Privacy Notice located at and the receipt of communications about CFRA and CFRA’s services.



  • Moderna Inc. (MRNA), is a leading biotechnology company in the nascent field of mRNA (messenger RNA) therapeutics. MRNA is best known for its leading Covid-19 vaccine candidate, mRNA-1273, which will likely be the company’s first commercialized product.

  • As of late 2020, no mRNA-based medicines have been approved by the FDA or any other regulatory agency.

  • In late November of 2020, MRNA announced that mRNA-1273 had an astonishingly high efficacy of 94.1%, which is comparable to Pfizer and BioNTech’s vaccine candidate, BNT162b2. We expect mRNA-1273 to be FDA-approved for emergency use by early 2021.


Download the case study to learn more about CFRA's analysis on Moderna.



Please visit our website for more examples of CFRA’s fundamental research.