Moderna rakes in over $1bn in deposits for potential Covid vaccine

Moderna has received more than $1bn in deposits from governments for its potential Covid-19 vaccine, highlighting how the pandemic has transformed the fortunes of the lossmaking US biotech. Contracts from countries for its vaccine candidate helped Moderna to turn cash flow positive in the third quarter for the first time in its 10-year history. The Boston-based company now expects net cash of between $100m and $300m in the fourth quarter. Stéphane Bancel, Moderna’s chief executive, said 2021 would be the “most important inflection year” in the company’s history, proving that its platform technology could deliver other vaccines and treatments.