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Why Moderna Shares Are Ripping Higher

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Moderna ($MRNA@US) was trading higher Monday following the company's pipeline update at the JP Morgan ($JPM@US) Healthcare Conference. Moderna announced that it now has 40 programs in development, including 23 in ongoing clinical studies, encompassing mRNA infectious disease vaccines and mRNA therapeutics spanning seven different modalities. Stéphane Bancel, CEO of Moderna, said that "While our COVID-19 vaccine is our first medicine to market, we have made significant progress across our pipeline of 40 development programs and now have 23 mRNA programs in clinical trials.” Moderna also announced a collaboration with Carisma Therapeutics for cancer treatment. The collaboration aims to discover, develop and commercialize in vivo engineered chimeric antigen receptor monocyte therapeutics. Carisma will find development candidates while Moderna will lead the development and commercialization of viable options. The company said it expects 2021 product sales of over $17 billion. Moderna shares were up about 9%.

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