Moderna Ships The First Batch of COVID-19 Vaccine, Stock Jumps
Over the course of 2020, so far, many biotech stocks have made positive moves, and the latest one to do so is that of Modena, a midcap stock. Moderna Inc (NASDAQ: MRNA) stock soared by as much as 28% on Tuesday and has emerged as a top biotech stock to watch that could be in investors’ radars for the rest of the week.
The Moderna stock went on a rally yesterday after it emerged that the company shipped its coronavirus vaccine named mRNA-1273 to the National Institute of Allergy and Infectious Diseases. The product in question is going to be studied by the United States government researchers at the institute, and it goes without saying that it is a significant development for Moderna.
Considering the current panic with regards to the coronavirus epidemic that has now spread beyond China, the optimism around the Moderna stock in the market is understandable. Moderna Inc (NASDAQ: MRNA) announced that the first clinical trial of the product is going to begin in April, and the preliminary results from the trail are going to be made available in August.
In this regard, it should also be noted that other biotech companies like Novavax and Inovio Pharmaceuticals are also working on their own coronavirus vaccines.
While other companies may be working on it, Moderna Inc (NASDAQ: MRNA) has managed to leapfrog its competitors by developing its experimental vaccine platform. However, one thing that investors are possibly wondering is whether Moderna is ever going to be able to make money from this vaccine. For instance, it has been stated by many experts that the problem would go away once the summer months come around.
Hence, there is the distinct possibility of the coronavirus crisis simply going away altogether before the vaccine hits the markets. On the other hand, it is now believed that the coronavirus situation could be seasonal from now on and affect people every year.
Source: Stock Market Press
Join Stock Market Press’ newsletter for the latest in IPO, market commentary and company profiles.
Stock Market Press is a financial news company that delivers up to date stock news, introduces private and public companies to a wide audience of investors, consumers, journalists and the general public via social media and a rapidly expanding network.
Stock Market Press
110 Wall St.
New York, NY 10005 email@example.com
Safe Harbor Statement:
Statements in this news release may be ”forward-looking statements.” Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Stock Market Press undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
See Stock Market Press disclaimer: https://stockmarketpress.com/disclaimer/ SOURCE: Stock Market Press