Vaccine makers were climbing during Thursday’s volatile market session when investors took President Trump’s bullish proclamation on Wednesday that a vaccine to treat COVID-19 is closer than many expected to hear.
Inovio Pharmaceuticals (INO) – Get report jumped more than 17% on Thursday, while Sorrento (SRNE) – Get report Almost 14% up. On Tuesday Inovio said he received $ 71 million from the United States Department of Defense to increase production of his smart devices that deliver his experimental coronavirus vaccine, INO-4800, to the skin.
Vaccines generally take years to develop and be tested safely, but the urgency of the coronavirus has required a shorter schedule for the development of a vaccine that can help restart the world economy.
The biotechnology ETF SPDR S&P (XBI) – Get report, who gained 1.6% in operations on Thursday afternoon after Trump said “I think he is going to have a big surprise, a beautiful surprise, sooner than anyone would think,” in response to questions about the availability of a vaccine. against coronavirus.
The government currently has the US Army Infectious Disease Research Center working on its “Deformation Rate” project, which aims to deliver a large-scale vaccine by January.
Concerns about the coronavirus are hurting market sentiment once again as a surge in cases across the country once again makes investors nervous.
Texas Governor Greg Abbott announced Thursday that the state will stop any reopens and stop the availability of voluntary surgeries, while the state health system is dealing with the influx of new cases of coronavirus.
On Thursday, Modern drug makers (MRNA) – Get report and catalent (CTLT) – Get report unveiled a joint effort to free the Moderna coronavirus vaccine candidate this quarter.
Medication supply specialist Catalent will provide vial filling and packaging services for the coronavirus vaccine candidate mRNA-1273 from drug maker Moderna, the companies said.
The agreement also involves Catalent, Somerset, NJ, providing additional staff at Catalent’s biological facilities in Bloomington, Indiana.
Employees will support the production of an initial dose of 100 million of the drug to supply the US market starting in the third quarter of this year.