Backpack Securities listed a tokenized version of Moderna stock on Solana on August 20, one day after Moderna and Merck reported that their mRNA cancer vaccine trial hit its main goals, according to an August 23 report from Solana Compass. The token, $MRNA, pulled in $4.5 million in on-chain trading during its first 24 hours, with more than 1,200 wallets holding it by the end of launch day.
$4.5 Million in Volume on Day One
The trigger for the listing was INTerpath-001, a late-stage trial testing Moderna and Merck’s personalized cancer therapy alongside Keytruda in patients with resected melanoma.
The companies said the combination cut the risk of recurrence or death by 49 percent compared to Keytruda alone. Backpack Securities and its infrastructure partner Sunrise moved fast on that news, publishing the tokenized listing the very next morning.
Each token is backed one-to-one by Moderna share entitlements held in Backpack’s regulated U.S. brokerage structure, and it trades on Jupiter, Raydium, Phantom, Solflare, Kamino, and Backpack Exchange itself. The tokens are issued under Regulation S, so only non-U.S. persons can hold or trade them.
What This Means for Solana’s Tokenized Stock Push
The Moderna listing lands during a broader run for tokenized equities on Solana, where our news section has tracked corporate and market-structure stories shaping the network’s growth this year.
Backpack’s earlier tokenized SpaceX listing helped drive a $1.04 billion tokenized equity week on Solana following SpaceX’s Nasdaq debut, and Backpack-issued tokens now account for more than half of weekly tokenized equity volume on the chain despite representing only 5 percent of total supply. The Moderna token gave holders a way to react to a specific clinical catalyst around the clock, something a Nasdaq-only listing does not allow.
Eli Lilly Joins the List Next
Backpack Securities added Eli Lilly shares as $LLY around the same period, extending the healthcare lineup beyond Moderna. Solana’s total tokenized equity supply hit an all-time high of $465 million during this stretch, with the network handling roughly 95 percent of decentralized tokenized-equity spot volume industry-wide.
Whether that pace holds depends partly on how the next major biotech readout lands and whether Backpack lists it just as quickly.
What this means for you: if you hold or watch biotech stocks, tokenized versions now let you trade around a trial result or FDA decision the moment it breaks, even outside Nasdaq’s regular hours.
This article is for informational purposes only and does not constitute financial advice. Do your own research before making any investment decisions.
