Moderna stock soars after new Covid-19 vaccine update

Moderna Inc. (NASDAQ: MRNA), the pharma company, recently announced its pipeline developments. It also mentioned that it is working on a Omicron specific vaccine booster. In response to the news, the MRNA stock started surging.

The MRNA stock gained 8% and traded at $230.97 (up by 17.11 points) at 3:05 p.m. ET. The market capitalization stood at 93.8 billion then. The share volume traded today was 14,886,881, considerably higher than the average volume of 12,410,894.

Earlier last week, the stock drastically lost 7.64% and closed at $215.23 (down by 17.81 points) on January 5, 2022. The stock has considerably rebounded today. However, it still didn’t gain back all the losses. Still down by over 3 points.

COVID-19 Vaccine Development

The press release mentions that:

  • Currently authorized 50 µg booster of mRNA-1273 increased neutralizing antibody levels against Omicron approximately 37-fold compared to pre-boost levels and a 100 µg dose of mRNA-1273 increased neutralizing antibody levelsapproximately 83-fold compared to pre-boost levels
  • Moderna is developing an Omicron-containing booster vaccine candidate (mRNA-1273.529)
CEO’s Statement on the Announcement

“2021 was a year of incredible impact and growth for Moderna. Because of our many years of investment in mRNA technology we were ready to develop and launch our Covid-19 vaccine which helped millions of people around the world. We have delivered 807 million doses with approximately 25% of those doses going to low- and middle-income countries and we will continue to scale in 2022 to help end the COVID-19 pandemic. While our COVID-19 vaccine is our first medicine to market, we have made significant progress across our pipeline of 40 development programs and now have 23 mRNA programs in clinical trials. We will continue to advance mRNA vaccines that can have a profound impact on health and quality of life including vaccines against respiratory viruses with the goal of bringing to market a pan-respiratory annual customizable booster vaccine. In parallel, we are advancing first-in-class vaccines against latent viruses, which remain in the body for life and can cause lifelong medical conditions and we are also working to bring to market therapeutics based on mRNA-encoded proteins to help address multiple disease areas. We look forward to further leveraging our mRNA technology and delivery into gene-editing and other ways to impact human health.”

– said Stéphane Bancel, Chief Executive Officer of Moderna, in the press release
Related Posts