Moderna

Few companies were as transformed by the pandemic as Moderna. The Cambridge, Massachusetts biotech had spent a decade working on messenger RNA, a technology that instructs the body's own cells to make a protein and trigger an immune response, without a single product on the market. Its COVID-19 vaccine changed that overnight, generating tens of billions in sales and funding a much larger pipeline. That pipeline is now the story: respiratory vaccines for RSV and flu, a cytomegalovirus candidate, and a personalized cancer vaccine developed with Merck. The hard part is what comes after the COVID windfall. Vaccine demand has fallen sharply, revenue has dropped well off its peak, and the company keeps spending heavily on research while investors wait to see whether mRNA can produce a durable second commercial hit.

On MyRWA, MRNA trades tokenized across 8 on-chain venues - see the listings below.