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Largest Biotech to IPO Leaves Analysts Awed at Valuation (1)

Dec. 7, 2018, 2:54 PM

Moderna Inc.’s potentially historic stock-market debut on Friday is already attracting skeptics on Wall Street.

The biotech firm has been hoping to raise as much as $600 million through a stock sale that would value the company at about $7.5 billion, a record even for a sector not always known for restrained valuations. The company, working with ten underwriters on the deal, is considering expanding the number of shares in its initial offering, Reuters reported.

Moderna’s eye-popping projected market value, which would exceed the combined size of this year’s three largest biotechs to IPO, is leading some analysts to question ...

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