Stephen Hoge, president of Moderna, reveals compensation in filing his initial public offering for savings

One of the most valuable private companies in the biotechnology sector has finally gone public.

Moderna Therapeutics, a company developing messenger RNA-based treatments, achieved a $ 7 billion private valuation. On Friday, he filed a file with the Securities and Exchange Commission to make it public and raise $ 500 million.

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Among the disclosures in Moderna's S-1 file was compensation for some of the company's top executives.

It should be noted that the president of Moderna, Dr. Stephen Hoge, had received compensation of nearly $ 24 million in 2017, according to the record. This included a salary of $ 542,308, a bonus of $ 4,400,000 and stock options of $ 19,000,000.

In comparison, Moderna's CEO, Stéphane Bancel, made $ 6.8 million in 2017, while Dr. Lorence Kim, CFO of Moderna, generated $ 9.3 million.

Hoge, 42, joined Moderna in 2013 and became president in 2015. He earned his doctorate in medicine at the University of California at San Francisco and worked at McKinsey & Co. from 2005 to 2012.

Hoge's compensation program rivals that of CEOs such as Ian Read of Pfizer, who earned $ 27.9 million in 2017, and Regeneron CEO Len Schleifer, who earned $ 26.5 million this year .

Zach Tracer contributed to the reports.

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