Moderna Inc. plans to raise $2 billion from selling notes that can be exchanged for shares. The Cambridge, Massachusetts-based biotechnology company will sell $2 billion worth of convertible senior notes due 2032, with an option to sell a further $300 million. The proceeds will be used to invest in its cancer vaccine business and to repay debt.

This strategic move comes as the company seeks to capitalize on recent stock performance to fund growth initiatives and strengthen its balance sheet. The offering highlights Moderna's focus on expanding its oncology pipeline while managing existing financial obligations. Investors will have the opportunity to participate in a debt instrument convertible into company stock, potentially providing upside if the share price appreciates further.

The transaction underscores the biotech sector's continued reliance on capital markets to fund innovative research and development efforts.