In the first 10 years of Moderna‘s (NASDAQ: MRNA) existence, the pharmaceutical and biotechnology company didn’t launch a single product onto the market. That changed last December when its coronavirus vaccine, mRNA-1273, earned emergency use authorization (EUA) from the U.S. Food and Drug Administration (FDA).
The regulatory nod that mRNA-1273 received helps give more credence to Moderna’s master plan. The company is looking to develop a raft of mRNA vaccines for infectious diseases, and until a couple of months ago, no vaccine of the mRNA variety had ever obtained FDA approval (or EUA).
Moderna may look like an attractive investment because of these factors, but the company remains a risky long-term bet. Aside from mRNA-1273, none of its pipeline candidates has yet made it to a phase 3 clinical trial; such experimental vaccines can run into negative clinical trial results, regulatory obstacles, competition from other biotechs, and other roadblocks.