MRNA Stock Up 14% in Pre-Market as Moderna COVID-19 Vaccine Hits 94.5% Efficacy
The Moderna vaccine trial involved about 30,000 participants and the interim analysis for the vaccine was based on 95 infections among the trial participants
The stock of an American biotechnology company that focuses on drug discovery, and drug development Moderna Inc (NASDAQ: MRNA) is soaring in today’s pre-market following reports that the company’s COVID-19 vaccine candidate mRNA-1273 recorded a 94.5% efficacy in its late-stage clinical trials. According to a CNN report, Moderna heard its vaccine result on Sunday in a call from members of the Data Safety and Monitoring Board, an independent panel analyzing the firm’s clinical trial data.
“It was one of the greatest moments in my life and my career. It is absolutely amazing to be able to develop this vaccine and see the ability to prevent symptomatic disease with such high efficacy,” said Dr. Tal Zacks, Moderna’s chief medical officer.
The results placed Moderna as the second-ranking pharmaceutical firm in the US Operation Warp Speed to announce such a promising result following Pfizer Inc (NYSE: PFE) whose vaccine candidate reportedly has over a 90% efficacy.
“This positive interim analysis from our Phase 3 study has given us the first clinical validation that our vaccine can prevent COVID-19 disease, including severe disease,” said Stéphane Bancel, chief executive officer of Moderna, in a statement.
The Moderna vaccine trial involved about 30,000 participants and the interim analysis for the vaccine was based on 95 infections among the trial participants. As reported by Reuters, of these trial participants were administered either a placebo or the mRNA-1273 vaccine candidate. The result showed that the five infections of the COVID-19 vaccine came from those administered the placebo. The shots were administered at 28 days intervals.
The news has boosted investor’s confidence such that Moderna’s stock is up by 14.51% in the pre-market. The stock is now worth $102.36 at the time of writing. The pre-market performance of Moderna’s stock complimented its earlier close on Friday at 1.80%.
Moderna (MRNA) Vaccine: What to Follow
The United States’ top infectious disease expert, Dr. Anthony Fauci according to CNN has expressed excitement with respect to the strides both Pfizer and Moderna have shown in line with the COVID-19 vaccine development. According to Dr. Fauci, vaccinations may begin by mid-December, beginning with high-risk groups such as the elderly while the rest of the population will have access to the vaccine on or before Spring next year.
The debut of Moderna’s vaccine appears to have an advantage over that of Pfizer in terms of storage. While Moderna’s vaccine requires a storage temperature of 2 to 8 degrees Celsius (36 to 48°F) for 30 days and can be stored for up to 6 months at -20 degrees Celsius, Pfizer’s vaccine requires a super low storage temperature of -70 degrees Celsius. Minimal side effects including aches and pains after taking the second dose.
The United States government has invested significant sums into Moderna’s vaccine development, and about $1 billion has been committed to secure up to 100 million doses of the vaccine. The firm aims to seek approval for Emergency Use Authorization from the FDA as early as next week.
The mRNA-1273 vaccine is based on the messenger RNA technology which seeks to teach the body to produce antibodies that can fight the coronavirus.
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
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