Actions of Modern‘s (NASDAQ: MRNA) It jumped 7% on Wednesday, promoting steamy biotech profits of more than 315% so far in 2020.
On Tuesday, a peer-reviewed interim analysis of the Moderna phase 1 study of its COVID-19 vaccine, mRNA-1273, was published in The New England Journal of Medicine. The results showed that the neutralizing antibodies, which the researchers hope will help prevent infection with the new coronavirus that causes COVID-19, were found in 100% of the participants evaluated in the study.
Investors applauded encouraging news about Moderna’s experimental COVID-19 vaccine. Image source: Getty Images.
The candidate vaccine also appeared to be generally safe and well tolerated. None of the 45 participants reported serious side effects during the first 57 days of the study.
Notably, by day 57, participants who received two 100-microgram doses of the candidate vaccine were found to have neutralizing antibody levels that were more than double that of people who had recovered from COVID-19.
“These Phase 1 data demonstrate that vaccination with mRNA-1273 elicits a robust immune response at all dose levels,” Moderna medical director Tal Zaks said in a press release.
Moderna plans to start a phase 3 assay of the mRNA-1273 before July 27. It will be a much larger study, with up to 30,000 participants. Moderna hopes the trial will show that its vaccine candidate is safe and effective against COVID-19.
Doing so could be a boon to Moderna and its shareholders. Jefferies analyst Michael Yee forecasts annual sales of more than $ 5 billion for Moderna’s experimental COVID-19 vaccine, in case regulators authorize its use.
