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
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