Moderna has lost 50% of its market value, its longest losing streak in more than two years.
According to Arab Net, the recent losses from its peak last August, wiped out about $98 billion of the company's market value.
This comes at a time when the Omicron variable is sweeping the world, as Moderna shares came under pressure, after Pfizer and Merck recently obtained a license from the US Food and Drug Administration (FDA).
Shares closed down 2.2% on Tuesday at $241.44. Its losses have deepened to 18% over the past six days, wiping out nearly $22 billion from its market value, according to Bloomberg, and seen by Al Arabiya.net.
This comes in a strange irony, as Moderna's shares are still up 131 percent, since the beginning of the year, and it also joined the S&P 500 index in July, as one of the best performers in the index this year and trails only Tesla.
Pfizer also retreated from competition in developing a vaccine against the Corona virus with mRNA technology.
