Today, the pharma company Moderna’s CEO, Stephane Bancel, warned the masses regarding the new Covid variant- Omricon. He went on to say that the existing vaccines could lack the efficiency to tackle the new strain. Earlier, he had warned that it could take several months to build a vaccine specifically for this variant.
However, yesterday it was another story altogether. Bancel had mentioned that even though the vaccine would take time, Moderna was ready with a higher dose of a 100-microgram booster. Further, he noted that it could be used “right away.” It’s just that the company would need two weeks to modify it according to the new variant’s mutations.
On November 26, 2021, Moderna announced that it has been studying two multi-valent booster candidates in the clinic designed to anticipate mutations that have emerged in the Omicron variant. Out of the two, one was the Omicron-specific booster (mRNA-1273.529), mentioned earlier in the report.
Moderna Inc. (MRNA) saw a considerable surge in stocks yesterday following the news of the booster being ready. It spiked up by 11.8% from the previous close of $329.63 and closed at $368.51. However, it opened at $370.33 and saw a slight dip of 0.49% from its opening price.
Further, the news of its existing vaccines being inefficient in tackling the virus led the stocks to dip in the pre-market hours. The stocks were valued at $359.10, down by 2.55% from its previous close. The current market valuation is more than $149.4 billion.
Omicron- What is it?
Omicron is the new Covid variant designated as a matter of concern by the World Health Organization (WHO) on November 26, 2021. It is suggested that it contains mutations found in the Delta variant. However, not much is known about it to date. Therefore, WHO and scientists around the world are conducting research to tackle it.