Why buy back shares? Probably the most important reason why Moderna is preparing to invest so much in itself is that the company's management team is very confident in its business prospects. CEO Stéphane Bancel said in the Q2 call, "We are very optimistic about the future of Moderna and we are just getting started." Another reason why Moderna is ready to spend up to $1 billion in stock buybacks is that it's likely going to have more cash than it knows what to do with. The company ended the second quarter with a cash stockpile of $12.2 billion. That amount will almost certainly continue to grow. Moderna expects to rake in $20 billion in sales from its COVID-19 vaccine this year. It already has advance purchase agreements worth $12 billion plus another $8 billion in options for next year.$Moderna, Inc.(MRNA)$