How in the World Is Moderna Valued at More Than Half of Pfizer's Market Cap?

Moderna (NASDAQ: MRNA) currently has one product on the market -- its COVID-19 vaccine -- which will probably generate sales in the ballpark of $20 billion for the company this year. Pfizer (NYSE: PFE) is Moderna's chief rival in the COVID-19 vaccine market. Now for the shocker: Moderna's market cap currently is close to $127 billion, while Pfizer's market cap stands near $230 billion.