Where Could Moderna's Next Growth Come From?

Moderna (MRNA) stock has returned 621% over the past twelve months, easily outpacing the S&P 500's 17.0% return. Yet the company's sales have fallen for three consecutive years, and nearly all of that revenue still comes from COVID vaccines. This divergence suggests investors are placing heavy bets on a product Moderna does not sell yet. So what is Moderna getting ready to sell, and how far along is it.