Moderna CEO has sold over $400m of company stock during pandemicMarch 18, 2022 - 13:10 AMT PanARMENIAN.Net - Moderna CEO Stephane Bancel has sold $408 million in company stock since the beginning of the coronavirus pandemic — averaging roughly $3.6 million a week — as the company’s stock soared on the development and rollout of its Covid vaccine, according to CNBC’s analysis of the company’s securities filings. The Cambridge, Massachusetts, biotech company and its French CEO weren’t widely known outside biotech circles before the pandemic. However, they both became breakthrough success stories as Moderna rapidly developed its two-dose Covid vaccine in cooperation with the National Institutes of Health and with taxpayer backing trough Operation Warp Speed. Moderna’s shots are now the second-most commonly used Covid vaccine in the U.S. after Pfizer, with more than 209 million doses administered, according to the Centers for Disease Control and Prevention. Courtney Yu, director of research at Equilar, said the value of Bancel’s sales speak to how well the company’s stock has performed on the success of its vaccine. Equilar, which provides data on executive compensation, independently verified the value of Bancel’s sales. Moderna’s stock has soared 614% since first announcing on Jan. 23, 2020, that it received funding from the Coalition for Epidemic Preparedness Innovations to develop a coronavirus vaccine. The FDA granted emergency authorization for Moderna’s vaccine in December 2020. Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | Police try to impede Armenian Church head’s access to war memorial Police tried to stop the supreme head of the Armenian Apostolic Church, Catholicos Karekin II, from visiting a war memorial. Greece says ready to help as Armenia fights flooding consequences Greece is ready to assist Armenia in combatting the consequences of deadly floods in the country’s north. “He will leave”: Protest leader no longer demands meeting with Pashinyan Archbishop Bagrat Galstanyan no longer demands a meeting with Armenian Prime Minister Nikol Pashinyan. Lemkin Institute petition seeks release of Armenians in Azerbaijan The Lemkin Institute is deeply concerned about the continued illegal detention of political prisoners from Karabakh in Azerbaijan. |