Fox News medical associate Dr. Marc Siegel discusses Moderna’s development of a coronavirus vaccine and its potential for distribution by the end of the year.
(Reuters) – Moderna Inc said Sunday it received an additional $ 472 million from the United States government’s Advanced Biomedical Research and Development Authority (BARDA) to support the development of its new coronavirus vaccine.
The US-based drug maker said the additional funds will support its advanced-stage clinical development, including the expanded Phase 3 study of the Moderna vaccine candidate.
In April, Moderna had received $ 483 million from the US federal agency that funds technology to fight disease, when the experimental vaccine was in an early-stage trial conducted by the US National Institutes of Health.
MODERN STOCK SOARS FOLLOWING POSITIVE RESULTS IN CORONAVIRUS VACCINE CANDIDATE
“Encouraged by the Phase 1 data, we believe that our mRNA vaccine can help address the COVID-19 pandemic and prevent future outbreaks,” Chief Executive Stéphane Bancel said in a press release.
| Heart | Security | Latest | Change | Change% |
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| MRNA | MODERN INC. | 73.21 | -2.12 | -2.81% |
BARDA’s total funding for Moderna’s experimental vaccine, the first in the United States to begin human trials of a coronavirus vaccine, is now approximately $ 955 million.
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The vaccine uses synthetic messenger RNA (mRNA) to inoculate against the coronavirus. Such treatments help the body to become immunized against a virus and can be developed and manufactured more quickly than traditional vaccines.
A Phase 3 study, conducted in collaboration with the National Institute of Allergy and Infectious Diseases, will begin July 27 and will involve some 30,000 participants, according to the company.
Moderna said it is on track to be able to administer around 500 million doses per year, and possibly up to a billion doses per year, as of 2021.
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The announcement of new funding came two days after the drug’s developer said its formula used to develop the vaccine was not covered by patents owned by Arbutus Biopharma.
| Heart | Security | Latest | Change | Change% |
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| A BUS | ARBUTUS BIOPHARMA CORP | 4.96 | -1.24 | -20.00% |
Pfizer Inc, Novavax Inc, Great Britain AstraZeneca Plc are a few other drug manufacturers that received funding from BARDA for the development of the coronavirus vaccine.
| Heart | Security | Latest | Change | Change% |
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| PFE | PFIZER INC. | 37.66 | -0.75 | -1.95% |
| NVAX | NOVAVAX INC. | 133.93 | -5.66 | -4.05% |
| AZN | ASTRAZENECA PLC | 55.80 | +0.63 | + 1.14% |
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