"Money time" for these guys with bit of 'plague profiteering' in adavance. There is an old saying that 'Luck is when opportunity meets preparation", these guys must be very lucky.
July 2, 2020
How Moderna executives are cashing in on COVID-19 vaccine stock speculation
Tom Bergin, Robin Respaut
10 Min Read
(Reuters) - 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.
FILE PHOTO: A sign marks the headquarters of Moderna Inc, which is developing a vaccine against the coronavirus disease (COVID-19), in Cambridge, Massachusetts, U.S., May 18, 2020. REUTERS/Brian Snyde
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 - by CEO Stéphane Bancel, his childrens’ trust and companies he owns - 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.
The lucrative liquidations highlight the unusually powerful incentives for biotech executives to highlight development milestones for drugs that often never get approved or sold, according to interviews with seven executive-compensation experts. Optimistic corporate statements on coronavirus vaccines, they said, could cause investors to overpay for company shares or create false hope among the public and health officials seeking new weapons to fight the pandemic.
https://www.reuters.com/article/us-h...-idUSKBN2433AH
Related
Moderna unveiled encouraging coronavirus vaccine results. Then top execs dumped nearly $30 million of stock
By Matt Egan and Chris Isidore
May 22, 2020
https://www.cnn.com/2020/05/22/inves...les/index.html
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