Modern (NASDAQ: MRNA) it has a start date, at least approximate, for the phase 3 clinical trial of its candidate for the coronavirus vaccine mRNA-1273. The expected launch of the highly anticipated trial is Monday, July 27, according to an entry on the government monitoring website ClinicalTrials.gov.
In total, about 30,000 adults of both sexes will be recruited for the study, which should last approximately three months. Participants will receive an intramuscular injection of 100 micrograms of mRNA-1273 or a placebo on Day 1 and Day 29. The trial will be conducted at 87 locations across the United States.
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If the trial is launched on time, it would fulfill a promise made by Moderna to start in July. Earlier this month, it was speculated that the phase 3 trial would be delayed due to modifications to the company’s testing protocol. There were also reports that Moderna and government health officials disagreed on various aspects of the trials, although both sides argue that this is not the case.
The company, which is relatively new compared to its larger peers who are also developing candidates for the coronavirus vaccine, has never conducted a clinical trial of this size. And unlike many of those rivals, it has never had a single approved product.
However, the results he has published from previous tests on mRNA-1273 are very encouraging, and the vaccine candidate is advancing quite rapidly through the clinical trial process. As a result, numerous health experts and industry observers believe that Moderna has a good chance of being the first to market a coronavirus vaccine.
Investors seem encouraged by this latest news. By mid-afternoon on Tuesday, Moderna’s shares rose 4%, significantly outperforming gains on the broader stock market.
