Drug maker Modern Inc (NASDAQ: MRNA) is starting a phase 3 trial of its coronavirus vaccine, and CNBC’s Jim Cramer has some advice for the company and its management team.
Sale of internal shares of Moderna: Moderna found itself on the receiving end of an additional $ 472 million from the federal government to help develop its candidate coronavirus vaccine.
Moderna CEO Stephane Bancel said on CNBC Monday morning that its internal share sales are part of a pre-planned event and cannot be canceled due to company policy.
The United States government clearly does not want Moderna or other executives “to do anything” with its actions when the company is in the spotlight, CNBC’s Jim Cramer said in “Squawk on the Street.”
“I don’t know how they feel comfortable since every time I pick up the newspaper, it’s more about selling than what’s happening with Moderna,” he said.
Cramer On Modern Vaccine Update: Moderna is making a mistake in guiding its results from its late-stage trial in October, Cramer said. The company should not set a date on such an important issue as it could have political ramifications, he said.
If the US government follows the guidance of Moderna or another company, it could prompt lawmakers to rule out a stimulus or other measures, the CNBC host said.
“I think it is time to start saying nothing,” Cramer said. “And without saying anything, there is nothing wrong with that.”
The ‘gold standard’ in reports Johnson and Johnson (NYSE: JNJ) stands out as the gold standard in the way a vaccine maker must interact with the public, Cramer said.
J&J, like Moderna, is enrolling tens of thousands of people to test its vaccine. But Johnson & Johnson is guiding results for the first quarter of next year.
“In terms of disclosure, J&J is getting very good advice, and big companies should have this opinion,” said Cramer.
Related links:
Moderna analyst says odds are good for COVID-19 vaccine approval, but assessment has been overdone
Moderna’s shares rebound as Biopharma begins testing for the late-stage coronavirus vaccine, attracting more funding
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