Deals
Largest Biotech to IPO Leaves Analysts Awed at Valuation
- Moderna may be valued near $7.5 billion in initial offering
- Some industry observers surprised at eye-popping pricetag
A research associate works at the Moderna Therapeutics Inc. lab in Cambridge, Mass.
Photographer: Adam Glanzman/BloombergThis article is for subscribers only.
Moderna Inc.’s potentially historic stock-market debut on Friday is already attracting skeptics on Wall Street.
The biotech firm has been hoping to raise as much as $600 million through a stock sale that would value the company at about $7.5 billion, a record even for a sector not always known for restrained valuations. The company, working with ten underwriters on the deal, is considering expanding the number of shares in its initial offering, Reuters reported.