Moderna unveiled encouraging coronavirus vaccine results. Then top execs dumped nearly $30 million of stock

A bicyclists pedals past an entrance to a Moderna, Inc., building, Monday, May 18, 2020, in Cambridge, Mass. Moderna announced that an experimental vaccine against the coronavirus showed encouraging results in very early testing, triggering hoped-for immune responses in eight healthy, middle-aged volunteers.

Moderna's stock price skyrocketed as much as 30% on Monday after the biotech company announced promising early results for its coronavirus vaccine. As ordinary investors piled in, two insiders were quietly heading for the exits.

Moderna's chief financial officer and chief medical officer executed options and sold nearly $30 million of shares combined on Monday and Tuesday, SEC filings reviewed by CNN Business show.

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