Moderna Up As First Human Trial Of Coronavirus Vaccine Begins
Zacks Investment Research | Mar 16, 2020 11:02PM ET
Moderna, Inc. (NASDAQ:MRNA) announced that it has dosed the first patient in a phase I study, evaluating its mRNA-based vaccine candidate, mRNA-1273, against the novel coronavirus (SARS-CoV-2). This is the first study evaluating any of the company’s mRNA-based vaccine against coronavirus infection (COVID-19). Please note that the study is being conducted by the National Institutes of Health ("NIH").
The company stated that it succeeded in starting a clinical study for COVID-19 vaccine in just over nine weeks from sequence selection for the SARS-CoV-2 vaccine.
Amid the largest daily decline in the broader S&P 500 Index in last three decades, shares of Moderna rallied 24.4% on Mar 16, following the initiation of its first human clinical study related to coronavirus. In fact, the company’s shares have increased 35.5% so far this year against the shown promising results in 14 Americans hospitalized in Japan for the treatment of COVID-19. Several other pharma/biotechs are actively developing treatments for COVID-19. A faster development of any treatment is necessary to save more lives as well as boost economies worldwide. Recently, monetary measures taken by the FED and ECB have failed to have any significant impact.
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