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MRNA Stock Lost 6%, Moderna Booster Effective against COVID-19 Variants of Brazil and South Africa

UTC by Bhushan Akolkar · 3 min read
MRNA Stock Lost 6%, Moderna Booster Effective against COVID-19 Variants of Brazil and South Africa
Photo: Depositphotos

Moderna’s booster shots combined with new COVID-19 vaccine variant is capable of creating more antibodies especially against the Brazilian and South African variant. Moderna will soon publish tests of its trials online. Besides, all eyes are on its earnings reports releasing later today.

On Wednesday, May 4, US pharmaceutical giant Moderna Inc (NASDAQ: MRNA) revealed the early human trial data for its experimental vaccine candidate. Moderna reported that its new booster version is quite effective against the new COVID-19 variants identified in Brazil and South Africa.

Moderna Booster Shots

Moderna said that the booster shots given along with Moderna’s two-dose vaccine regimen have also boosted antibodies against the original Covid variant. In its recent trial, Moderna tested a 50-microgram dose of the booster in previously vaccinated people. This is how they discovered that the booster dose helps in neutralizing antibody responses against the original virus and the two variants.

Reportedly, news cases with Brazil and South African variant have also erupted in the US Moderna’s booster shot of its other vaccine dubbed mRNA-1273.351 delivered a better immune response over the existing vaccine. Moderna is now working on a shot that combines both the new and the existing vaccine.

The booster shots of both versions of Moderna’s vaccine increased antibodies against every COVID-19 variant tested. However, the new booster has a higher response than the original vaccine against the South African variant. Moderna said that it will soon publish the preliminary results of its trials, online. In the official press release, Moderna CEO Stephane Bancel said:

“As we seek to defeat the ongoing pandemic, we remain committed to being proactive as the virus evolves. We are encouraged by these new data, which reinforce our confidence that our booster strategy should be protective against these newly detected variants.”

Moderna’s Earnings Report on Thursday

Later today, May 6, Moderna (MRNA) is all set to release its earnings report for Q1 2021. In its report, Moderna will update its own vaccine projections for the year 2021. According to FactSet, analysts are expecting first-quarter earnings at $2.34 per share. Besides, they also expect $2.1 billion in sales in Q1 2021.

Earlier this week, Moderna announced that it’s setting up a new manufacturing facility in Norwood, Massachusetts. Besides, it also signed a deal to supply 34 million doses of its COVID-19 vaccine to COVAX. This deal aims at offering the vaccine to middle-and-low income countries by Q4 2021. By the end of 2022, Moderna can increase this supply to 500 million doses.

Moderna is having a good year on Wall Street so far. MRNA shares have surged more than 60% year-to-date. However, MRNA stock price tanked over 6% on Wednesday. The stock came under pressure as the Biden administration voiced its support for waiving off patent rights for the COVID-19 vaccine.

MRNA stock remains under pressure even in the pre-market opening today and is 3% down.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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