Moderna (MRNA) Stock 3.6% Down in Premarket, CEO Says Coronavirus Vaccine to Be Affordable

Updated 1 month ago by Christopher Hamman · 3 min read
Moderna (MRNA) Stock 3.6% Down in Premarket, CEO Says Coronavirus Vaccine to Be Affordable
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Moderna (MRNA) stock has fallen since the last week’s announcement of a possible vaccine for COVID-19. Its CEO has indicated that the prices for the coronavirus vaccine will be affordable.

Moderna Inc (NASDAQ: MRNA) stock remained low. It lost 1.5% yesterday and today in the premarket it is nearly 4% down. 

This comes as the CEO of the biotech startup has indicated that the company’s COVID-19 vaccine will be affordable. Sources report that Stephane Bancel said that the price will be within the range of other vaccines that cure respiratory illnesses. Many investors have been excited about Moderna recently.

Moderna (MRNA) stock went up as high as 20% last week. Moderna had announced earlier that it had delivered its first batch of the vaccine (mRNA-1273) to the U.S. National Institutes of Health (NIH). Human testing of the vaccine is expected to begin in April.

In line with public sentiment, Bancel had told sources a few things about the companies’ recent decision. He said that

“We are highly aware this is a public-health issue, and so we will be very thoughtful about setting a price if this product gets to approval. There is no world I think where we would contemplate to price this higher than other respiratory virus vaccines.”

Time is Needed for Public Roll-out of Moderna Coronavirus Vaccine

Thousands are dying from COVID-19 currently. It may take about a year for Moderna to get final approval for the distribution to markets. The vaccine under current circumstances may come a year too many for some. Sources report that a Chinese epidemiologist has taken the ultimate risk as regards COVID-19. Chen Wei is a Major-General in the Peoples’ Liberation Army of China. She has injected herself with an untested COVID-19 vaccine. Her team has followed suit as well. This was done apparently in allegiance to China. 

This also indicates that there are opportunities for profits to be made during this period of global crisis. Stocks of Bio-medical companies who are researching solutions to COVID-19 will be a profit center for quite a bit. Moderna (MRNA) is one such example. The gains made will occur during a volatile time for the markets. Global markets have reacted badly to the emergence of the coronavirus. Such profits are expected to be made during swings of such stocks during and even after trading hours. 

Moderna seems to have very few competitors. At the moment, Gilead Sciences Inc (NASDAQ: GILD) and the Chinese government seem to be the only ones who have working solutions against COVID-19. The effect of the Chinese solution remains unclear. Gilead Sciences already had Resmdesivir. Resmdesivir is a drug that is in clinical trials for Ebola treatment. This provides the company with an unprecedented opportunity to establish its brand name as a leader in the bio-medical industry. 

Moderna (MRNA) Stock Provides New Investment Opportunities

Its novel approach already has never been used on humans before. RNA-based vaccines have been though to be theoretically effective. We will all have to wait and see how this works out in the long-term. For those who take a risk however, this could be the goldmine of a lifetime. Or at the very least an expensive risk.

At the time of filing this report, before the trading session starts today, Moderna (MRNA) stock price is around $26.50. This is a 3.6% decline since the last closing.

Business, Markets, News, Stocks, Wall Street
Christopher Hamman
Author: Christopher Hamman

Christopher Haruna Hamman is a Freelance content developer, Crypto-Enthusiast and tech-savvy individual. He is also a Superstar Content Developer, Strategy Demigod, and Standup Guy.

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