In institutions and companies, investigators spent some two decades working on RNA-based drugs and vaccines before COVID-19 afforded many of them an opportunity to apply all that research into patients, with support from governments and regulators eager to fight the pandemic.
For two once obscure companies—Moderna, which went public in 2018, and BioNTech, which followed a year later—that opportunity has translated into multiple billions of dollars in new revenues. Not surprisingly as a result, both companies far outpace the other public companies ranked by GEN this year among top RNA-based biopharma companies.