Moderna jumps 12% to 52-week high on mRNA expansion beyond vaccines

Moderna Inc. shares surged 12% to a 52-week high of $69.29 on Friday, after the company outlined plans to expand its messenger RNA platform beyond Covid-19 vaccines into oncology, autoimmune diseases, and AI-powered drug discovery.

"The breadth of our platform allows us to address diseases where traditional protein-based therapies have struggled," Chief Executive Officer Stéphane Bancel said during the company's Science Day presentation on Thursday, according to a transcript. "We are now applying mRNA to cancer, autoimmune conditions, and rare genetic disorders."

The Cambridge, Massachusetts-based biotech highlighted progress across multiple therapeutic areas, including cancer vaccines, autoimmune disease treatments, and rare disease therapies. The company also emphasized its growing use of artificial intelligence, automation, and robotics to accelerate drug discovery and development timelines. Moderna's pipeline now spans more than 40 programs across multiple phases, with several oncology candidates in mid- to late-stage development.

The strategic pivot comes as Moderna seeks to diversify revenue beyond its Covid-19 vaccine franchise, which generated the bulk of its more than $6 billion in 2025 sales. The company's mRNA platform — the same technology used in its Spikevax vaccine — is being repurposed to encode tumor-specific antigens for personalized cancer vaccines and to produce therapeutic proteins for rare enzyme deficiencies. Unlike traditional biologics, mRNA therapies can be designed and manufactured in weeks rather than months, a speed advantage Bancel said could be transformative for personalized medicine.

Competitive positioning and investor implications

Moderna's expansion puts it in direct competition with established oncology players such as Merck & Co. Inc. and Bristol Myers Squibb Co., as well as next-generation biotechs like BioNTech SE, which is also pursuing mRNA-based cancer therapies. Moderna's personalized cancer vaccine, developed in partnership with Merck, is in Phase 3 trials for melanoma and other solid tumors, with data expected in the second half of 2027.

The company held $8.2 billion in cash and equivalents as of the most recent quarter, providing runway through at least 2028 as it invests in clinical development and manufacturing capacity. Moderna shares trade at roughly 15 times forward earnings, a discount to large-cap biotech peers, reflecting lingering uncertainty about the durability of its post-Covid revenue base. Friday's rally pushed the stock's market capitalization above $26 billion, recovering ground lost during the 2024-2025 vaccine-demand downturn.

This article is for informational purposes only and does not constitute investment advice.