Moderna’s shares fell 8% on Thursday after a report indicated that the advanced-stage biotech company’s trial for a possible coronavirus vaccine will be delayed.
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A sign marks the headquarters of Moderna Therapeutics, which is developing a vaccine against coronavirus disease (COVID-19), in Cambridge, Massachusetts, May 18, 2020.
The company, which is working with the National Institutes of Health, was expected to begin a phase 3 trial for its vaccine candidate later this month, pending the results of its intermediate-stage trial.
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However, the company is making changes to the test plan, which has delayed the expected start date, according to the health care publication STAT News, citing an investigator. STAT News said it is unclear how long the start date will be delayed.
“I understood that they wanted to receive the first vaccines in July, and they say they are still committed to doing so,” an investigator told STAT News. “The best I can say is that they are close to being the target for that.”
Moderna’s experimental vaccine contains genetic material called messenger RNA or mRNA. MRNA is a genetic code that tells cells what to build, in this case, an antigen that can induce an immune response to the virus. He became the first candidate to enter a phase 1 trial in humans in March.
In May, the company released data from its early-stage trial, which showed that the vaccine produced neutralizing antibodies to Covid-19 in at least eight participants.
This is a developing story. Please check for updates.
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