Moderna's CFO, Jamey Mock, discusses capital allocation in big pharma, addressing the challenges of choosing projects amidst drug development uncertainty. Moderna's stock, $MRNA, experienced a 9% increase in value on high volume trading. Layoffs at Moderna hint at the end of the COVID vaccine boom, with revenue expected to drop from $19B in 2022 to $4B in 2024. Despite this, the company's strong pipeline raises hopes for a stock rebound. Moderna executive hints at potential partnerships and project financing to fund pipeline programs beyond 2026.