Moderna CEO sells 2.8 million shares since pandemic
Sale according to the plan submitted in advance in 2018
Moderna CEO Stefan Bansel has sold $408 million worth of company stock since the COVID-19 pandemic, CNBC reports. According to CNBC on the 17th, CEO Bangsel has sold more than 2.8 million shares of Moderna since the end of January 2020. This is equivalent to $480 million. However, the sale was pre-planned in accordance with the 10b5-1 regulation of the US Securities and Exchange Commission. This regulation is a regulation that allows insiders of listed companies to sell their stocks at a set price or date. In 2018, before the pandemic, Bancel CEO had plans to sell such a stock and submitted it to the SEC.
Moderna stock has soared 614% so far after announcing that it had received a COVID-19 vaccine development grant from the Infectious Disease Innovation Coalition on January 23, 2020. In December of the same year, the U.S. Food and Drug Administration urgently approved the Moderna COVID-19 vaccine. According to CNBC, Moderna was a company that was not widely known to the public before Corona 19, but it wrote a success story when it developed a vaccine with government support.
Modernas COVID-19 vaccine is the second most used vaccine in the United States after Pfizer. According to the Centers for Disease Control and Prevention, more than 290 million vaccines have been received in the United States. Going public in December 2018, Moderna posted net income of $12.2 billion for the first time last year. Sales of COVID-19 vaccines reached $17.7 billion last year and are expected to reach $19 billion this year.
