This illustrated photo, taken in Poland on October 12, 2020, shows a medical syringe with the Modern Company logo displayed on the screen in the background.
Jakub Porziki | Nourphoto | Getty Images
Moderna is preparing for the global launch of its potential coronavirus vaccine, taking જમા 1.1 billion in deposits from governments awaiting potential life-saving drugs, the biotech company said in its third-quarter earnings report on Thursday.
The Cambridge, Massachusetts-based company said it was in ongoing talks with the World Health Organization-backed CVAX initiative on a possible rental proposal for the vaccine, which it calls a temporary MRNA-1273. It already has supply agreements in North America, the Middle East and other regions of the world.
“We are actively preparing for the launch of MRNA-1273 and we have signed a number of supply agreements with governments around the world,” Moder CEO Stephen Bansal said in a press release. “Moderna is committed to the highest data quality standards and strict scientific research as we continue to work with regulators to advance MRNA-1273.”
Moderna’s stock rose more than 2% in pre-market trading.
Movirna, who has been ahead in the Covid-19 vaccine race, said last week that it had completed a late-stage trial registration for its 30,000 participants. As of last week, more than 25,650 participants had received second in the company’s two-dose Covid-19 vaccine. The company said that about 37% of the participants were from different communities and 5% were at risk of serious illness.
Separately, the company lost 23 233.6 million, or 59 cents, in the third quarter, more than the c 43 cents per analyst surveyed by Refinitive. The company had a revenue of 17.9..9 million more than 5.5 million dollars than Wall Street expected.
The modern vaccine, developed with the help of the National Institutes of Health, uses the Messenger RNA. Or there is a genetic material called mRNA, which scientists hope stimulates the immune system to fight the virus.
Executives are holding a call with investors at 8 a.m. ET.
This is a developing story. Please check back for updates.