Note: The graphic has been corrected to reflect that Moderna is traded on the NASDAQ, not the NYSE. A previous edition of the post also erroneously included a photo illustration of the Moderna flag on the NYSE building.
Moderna has priced its IPO at $23 per share, in the middle of its expected range, raising about $604 million as part of the biggest US biotech IPO in history. The company originally planned to sell 21.7 million shares but increased its offering to nearly 26.3 million Thursday.
The public offering values Moderna, which is banking on messenger RNA to develop drugs for the treatment of genetic disorders, cancer and cardiovascular diseases, at roughly $7.6 billion. That's well above the $7.1 billion valuation it reached in May, after raising $125 million from Merck. Moderna's other backers include Sequoia Capital China, ArrowMark Partners and EDBI.
Founded in 2010, Moderna was valued at $10.5 million with its first fundraise in October of that year, and its valuation multiplied a dizzying 679x over the course of eight years, reaching $7.1 billion before the company filed for its IPO in November.
For a closer look at the numbers surrounding Moderna's high-profile IPO, check out our datagraphic: