Tesla CEO Elon Musk does not seem to agree with Republicans at least on one thing. On Wednesday, the billionaire, true to his credentials as a tech pioneer, unequivocally backed the mRNA technology, which is the core of new-age vaccines.
What Happened: Social-media personality and prominent YouTuber Ed Krassenstein lauded the mRNA technology in a post on X, stating that it will “save millions of American lives in the future, if Republicans don't get in the way.”
The view was seconded by Musk, who is very active on the platform he owns. Replying to Krassenstein’s post, he said, “Synthetic mRNA is basically digital medicine with incredible potential.”
See Also: Best Biotech Stocks Right Now
The Technology: So, what is this mRNA tech that Musk has a lot of confidence in? mRNA, with the “m” there standing for messenger, is a molecule that contains the instructions that direct the cells to make a protein using its natural machinery. When this synthetically developed mRNA reaches the cell in a protective bubble called a lipid nanoparticle, the cells read the set of instructions and begin making proteins that are found in the pathogen.
Our body’s immune system sees these as invaders and produces antibodies and T-cells, and in the process trains the immune system to defend against potential future attacks.
The vaccines developed against COVID-19 by most companies in the aftermath of the pandemic used the technology. Pfizer, Inc. PFE-BioNTech SE BNTX, Moderna, Inc. MRNA, and Novavax, Inc. NVAX, which have FDA-approved vaccines against COVID-19, relied on the mRNA technology for developing their respective.
Republicans Shun It: GOP voters and lawmakers, especially those who are more right-leaning, have been against the COVID-19 vaccines. In fact, the anti-vaxx movement, backed by Republicans, has taken on a political color. A Politico/Morning Consult poll conducted in late 2023 showed that 51% of the Republicans cared more about the health risk posed by the vaccine compared to the 49% of the respondents, who focused on the healthy benefits.
In comparison, among the overall respondents, the split was 38% to 62%.
As is the case with any new technology, skepticism abounds until science can prove that its potential benefits outweigh the risks. Safety for that matter was an issue with the COVID-19 vaccine developed by AstraZeneca plc. AZN along with Oxford University using the traditional vaccine technology.
mRNA Bets: The global mRNA therapeutics market size, estimated at $11.75 billion in 2023, is expected to grow at a CAGR of 17.05% from 2024 to 2030, according to estimates by Grand View Research. If mRNA is going to be the technology of the future, as Musk and others claim, here are a few stocks that investors can consider adding to their portfolios.
1. Moderna (for skin cancer, flu, respiratory syncytial virus, and HIV, etc)
2. Arcturus Therapeutics Holdings Inc. ARCT (for Ornithine transcarbamylase, cystic fibrosis, etc)
3. BioNTech (for cancers)
4. CureVac N.V. CVAC (for flu, COVID-19, cancers)
5. GeoVax Labs, Inc. GOVX (for infectious diseases and cancers)
The SPDR S&P Biotech ETF XBI ended Wednesday’s session down 1.46% to $89.11, according to Benzinga Pro data.
Read Next: Vaccine Player Vaxcyte Has Advantage Over Pfizer, Merck’s Pneumococcal Shots – Analyst Says
Photo via Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
