MRNA) has actually announced a $483 million federal government award to fund production scale-up and the advancement of the business’s SARS-CoV-2 vaccine mRNA-1273 to FDA licensure.” data-reactid=”12″ type=” text”> Biopharma Moderna Inc ( MRNA) has actually announced a $483 million government award to fund production scale-up and the advancement of the company’s SARS-CoV-2 vaccine mRNA-1273 to FDA licensure.
The NIH-led Phase 1 research study of mRNA-1273 has already completed enrollment of 3 dose cohorts (25 µg, 100 µg and 250 µg) and is now broadening to an additional 6 cohorts of older adults and elderly grownups
Looking ahead, the company expects the Stage 2 research study to start in Q2 2020, following security data from the continuous Phase 1 study.
In addition, Moderna will now work with approximately 150 new team members to support efforts following the award from the Biomedical Advanced Research and Advancement Authority (BARDA), says the statement.
” By investing now in our manufacturing procedure scale-up to make it possible for large scale production for pandemic reaction, our company believe that we would have the ability to provide countless dosages monthly in 2020 and with additional investments, tens of millions each month in 2021, if the vaccine candidate achieves success in the center,” commented CEO Stéphane Bancel.
On the news the stock surged 9%in after-hours trading. Since the beginning of the year, MRNA stock has now more than doubled with a year-to-date gain of 107%.
Undoubtedly, Moderna already made the headlines today after hosting a virtual Vaccines Day- following which 4 analysts repeated their buy scores on the stock.
Find Out More: Moderna Hosts Virtual Vaccines Day; 4 Analysts Repeat Bullish Calls
This included Roth Capital’s Yasmeen Rahimi who improved her MRNA cost target from $33 to $41 This wave of bullish belief sent shares skyrocketing over 7%in Wednesday’s trading.
TipRanks shows that the stock holds a Strong Buy expert consensus with eight buy rankings in the last 3 months vs only one hold ranking. However the surging share cost means that the typical expert cost target now suggests drawback potential of almost 8%. (See Moderna’s stock analysis on TipRanks)
Related News:
RBC: 3 Growth Stocks to Purchase For a Post-Coronavirus Recovery
Novavax To Commence Australia’s First COVID-19 Vaccine Trial
Abbot Labs Rolls Out Coronavirus Antibody Test, Looks For to Produce20 Million Tests by June
More recent short articles from Smarter Analyst:
- Gilead Shares Rise On Early Peek At Positive Covid -19 Vaccine Data
- Uber Withdraws2020 Assistance; Shares Spike 8 %In After-Hours Trading
- Roku Topped Quotes, but Uncertainty Lies Ahead
- Starbucks Prepares to Gradually Resume U.S. Cafes in Might after Coronavirus Shutdown
