Moderna Inc was set to raise gross proceeds of about $1.34 billion from a public share offering that was launched hours after the company reported positive interim data from a Phase 1 study of its messenger RNA (mRNA) vaccine for COVID-19. The company is issuing 17.6 million shares at a price of $76 per share. The offering is expected to close on 21 May. Proceeds will be used to finance the cost of manufacturing its COVID-19 vaccine which still has to complete clinical development and be approved by a regulator.
