- Moderna’s shares rose as much as 18% on Wednesday after the company announced that an early test of the coronavirus vaccine produced antibodies in all participants.
- A dose range induced immune responses in all 45 patients in the phase 1 trial and was “generally safe and well tolerated,” Moderna said in a press release.
- The company plans to begin a Phase 3 study of 30,000 participants on July 27 “to demonstrate the ability of our vaccine to significantly reduce the risk of COVID-19 disease,” said CEO Stephane Bancel.
- The upbeat test news also boosted the overall market as traders gambled on a vaccine launch earlier than expected.
- Watch Moderna’s trade live here.
Moderna’s shares rose as much as 18% on Wednesday after the company announced that its coronavirus vaccine produced antibodies in all members of a recent trial.
The results published Tuesday afternoon in The New England Journal of Medicine expanded on positive preliminary data published in May. Participants received two doses of the experimental vaccine of different doses. The mRNA-1273 vaccine induced immune responses in all 45 patients and was “generally safe and well tolerated,” Moderna said in a press release.
Scientists at the US National Institutes of Health said the results supported more research on the vaccine.
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The Phase 1 test data is “encouraging and represents an important step forward,” CEO Stephane Bancel said in the statement. Moderna plans to begin a Phase 3 study of 30,000 people on July 27 “to demonstrate the ability of our vaccine to significantly reduce the risk of COVID-19 disease,” he added.
The upbeat test news, coupled with a strong profit from Goldman Sachs, lifted the broader stock market on Wednesday morning.
Participants in the Moderna Phase 1 trial received a low, medium or high dose of the vaccine. Moderna is advancing its average dose, consisting of 100 micrograms, for future tests. If future studies show equally positive results, the company plans to deliver approximately 500 million doses in 2020 and up to one billion doses the following year.
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While the study showed a safe immune response in humans, it did not reveal whether the vaccine can reliably protect coronavirus receptors. It is not yet known how many antibodies are needed to build such protection.
The biotech company’s shares have quadrupled in 2020, as investors bet that its experimental virus vaccine would be the first to get regulatory approval. Other companies that tried to introduce the first effective COVID-19 treatment, including Pfizer, Gilead and Novavax, have seen similar volatility in recent months.
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The latest company received $ 1.6 billion in funding from the United States government to develop and produce its own coronavirus vaccine. Novavax shares jumped as much as 41% on the news. The grant was the largest so far made through “Operation Warp Speed,” the White House plan to accelerate delivery of a pandemic vaccine. Novavax aims to start Phase 3 trials in the fall and deliver 100 million doses by the end of the year if the studies are successful.
Moderna closed at $ 75.04 on Tuesday, 344% more so far this year.
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