Moderna shares leaps in data from first coronavirus vaccine trial

(Reuters) – Moderna Inc’s (MRNA.O) Stocks increased by about 11% on Wednesday after a small-scale study showed that its experimental COVID-19 vaccine produced high levels of virus-killing antibodies, raising hopes that the vaccine could be effective in later stages of testing.

Wall Street analysts said data from 45 healthy test volunteers suggested that the vaccine could protect against virus infection and lead to successful sales if it is shown to work in larger tests.

“We have already started manufacturing material at risk in preparation for commercial doses (vaccines). We are moving as quickly and safely as possible, ”Moderna CEO Stéphane Bancel said in a conference call to discuss the issue.

Moderna said it is on track to deliver around 500 million doses or more per year by 2021.

However, the initial test data is not a definitive conclusion that the vaccine could work in humans.

“When a vaccine is administered to healthy people, safety is paramount. So the most important conclusion is that the 100 microgram dose, which is in phase 3 testing, was safe, “said Piper Sandler analyst Edward Tenthoff, who estimated that the vaccine could generate revenue of $ 12.5 billion to $ 25 billion.

No serious side effects were reported in the ongoing study, but more than half of the volunteers reported mild or moderate reactions, such as fatigue, headache, chills, muscle aches, or injection site pain.

Moderna was one of the first drug manufacturers to start testing a coronavirus vaccine in humans, and trials are expected to start late in the month.

Moderna’s shares rose 10.8% to $ 83.17 in morning trading on the Nasdaq after hitting a record high of $ 88.37 earlier in the day.

The vaccine, mRNA-1273, uses technology that has not yet produced an approved product. Other drug manufacturers like AstraZeneca Plc (AZN.L) and BioNTech 2UAy.F are also competing for a viable and safe vaccine on the market.