Moderna (MRNA) Stock Keeps Growing as First Batch of COVID-19 Vaccine Candidate Sent

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by Steve Muchoki · 3 min read
Moderna (MRNA) Stock Keeps Growing as First Batch of COVID-19 Vaccine Candidate Sent
Photo: Pxfuel

Moderna Inc (MRNA) stock has been skyrocketing since the company announced its mRNA COVID-19 vaccine has been successfully shipped to the National Institute of Allergy and Infectious Diseases.

Moderna Inc (NASDAQ: MRNA), a biotech company that is focused on drug discovery and also in the drug development, has seen its stock market value continue rising even hours after it announced the release and shipment of its COVID-19 vaccine. The shares so far are up by 7.11% in the pre-market, where at the time of writing they were trading at $25.45. More so, the shares have already broken the previous strong hurdle at $23.

With coronavirus outbreak spreading a lot of fears to the global investors, talks of a vaccine will bolster in a significant manner the stock value of the company. However, it is still an early call, as the vaccine takes over a year to go through the regulatory testing rounds.

The uncertainty surrounding the future of coronavirus may keep huge investors at bay. This is because of the possibility that by the time the mRNA-1273 vaccine gets to the final round of testing and mass-produced, chances of COVID-19 outbreak having been suppressed are still in the cards.

However, the sleek chance that it will still be a global threat in a year or two attracts investors who are big-time risk-takers. This is because most investors are shying away from stock markets that are not long-term at the moment, the main reason the U.S. stock market has tumbled over $1.7 trillion in just two days.

What Next if Moderna COVID-19 Vaccine Turns to a Be Success?

Currently, Moderna has already shipped its first batch of an experimental vaccine to the governmental agency, National Institute of Allergy and Infectious Diseases, which is mandated to regulate drug vaccine development and also drug development.

With a number of other biotech companies like GlaxoSmithKline Plc, Johnson & Johnson, and also Sanofi, rushing to develop and manufacture its COVID-19 vaccine. If by any chance the Moderna’s test is passed, it will see its shares skyrocket to all-time highs.

The company is also facing stiff competition in developing the vaccine from other worldwide private and public biotech labs. This is pushed by the huge demand for the vaccine and treatment of the deadly coronavirus outbreak.

Other companies are in turn researching to come up with a therapy cure and a vaccine at the same time. The huge market demand, especially in China, is driving the vaccine rash all over the world.

With Gilead conducting its clinical trials in China, Moderna (MRNA) stock market value are not assured of a ride in the pack. Anything is possible at the moment, either it might win in being the first to produce the vaccine, or the COVID-19 won’t be a threat by then, or even a different company comes up with a better and efficient vaccine.

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Steve Muchoki
Author Steve Muchoki

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