Biotech firm Moderna Inc. could reap tens of billions of dollars in sales and stock appreciation if it wins the race for a COVID-19 vaccine. If it loses, the early-stage company¡¯s value could crash.
In the meantime, the firm¡¯s chief executive is pocketing millions of dollars every month by selling shares that have tripled in price on news of Moderna¡¯s development progress, a Reuters analysis of corporate filings shows. The sales ¡ª by CEO Stephane Bancel, his childrens¡¯ trust and companies he owns ¡ª amount to about $21 million between January 1 and June 26, including $6 million in May.
The company¡¯s chief medical officer, Tal Zaks, has cashed out the majority of his available stock and options, netting over $35 million since January, the filings show.
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