Stocks
Biopharma Sector Surges on Moderna Breakthrough
Moderna's breakthrough in cancer vaccine technology has driven a broad rally across the biopharma sector, with investors optimistic about potential future growth and returns.
The company's mRNA technology, which has already shown promise in Covid-19 vaccines, is also being explored for its oncology pipeline. This news has sent shares of Moderna soaring, more than doubling in value over recent days.
Other notable winners in the biopharma sector include Merck & Co Inc and Analog Devices Inc, with investors betting on their large late-stage pipelines and AI-driven optical technologies respectively.