Modern Inc. (MRNA) – Get report Shares rose in premarket operations on Wednesday after the drug maker reported uniformly positive data from an initial trial of its experimental coronavirus vaccine.
Moderna said the phase 1 trial of MRNA-1273, its proposed candidate for the coronavirus vaccine, induced antibody reactions in the 45 participating patients, without serious side effects, after two injections spanning a four-week period. The results open the door to a larger study of some 30,000 patients, scheduled for July 27, and follow up on positive results in vaccine studies reported earlier this week by drug maker Pfizer Inc. (PFE) – Get report.
Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, said the data seemed “really good,” highlighting the fact that patients suffered only minor side effects from the injection, such as headaches, fever and fatigue.
“This positive Phase 1 data is encouraging and represents an important step forward in the clinical development of mRNA-1273, our candidate for the COVID-19 vaccine, and we thank the NIH for their continued collaboration,” said CEO Stephane. Bancel. “The Moderna team continues to focus on starting our Phase 3 study this month and, if successful, presenting a BLA.”
“We are committed to advancing the clinical development of mRNA-1273 as quickly and safely as possible while investing in expanding manufacturing so that we can help address this global health emergency,” he added.
Moderna’s shares were marked up 14% more in pre-market trading to indicate an opening price of $ 85.50 per share, a move that would expand earnings for the year to date to a staggering 350%.
Earlier this week, Pfizer obtained “fast-track” approval from the US Food and Drug Administration for two of its candidates for the coronavirus vaccine. that the drug maker is developing together with BioNTech BNTX from Germany, following preliminary data from the Phase 1 and Phase 2 studies earlier this month.
Pfizer had previously said preliminary results of its coronavirus vaccine study, which it said triggered a “strong immune response” in human trials, a revealed plan to test the most promising of its four vaccine candidates on up to 30,000 participants. in trials established for the United States and Europe.
No serious adverse effects were reported in the study, said Pfizer, which included testing two doses of BNT1162b1 in 24 healthy volunteer patients, but those treated showed higher levels of COVID-19 antibodies compared to those infected with the disease.
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