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Moderna (MRNA) is up today. The rise may be attributed to news that the company’s coronavirus vaccine has passed a safety test on animals. Moreover, Israel is in talks with the company to buy its vaccine.
One of the leading biotech companies that are working on developing a coronavirus vaccine, Moderna Inc (NASDAQ: MRNA) is presumably in the final stages of getting its vaccine approved. This is according to a preliminary report from the test series carried out on mice that indicate the vaccine from Moderna is not harmful and one dose may provide protection against the coronavirus.
As a result, MRNA stock jumped over 4% on Monday as the market opened to trade around $64.67, after closing Friday’s trade at $62.00. The shares have seen increased volatility in the past 52 weeks, whereby they traded lowest at $11.54 and highest at $87. With a market capitalization of $23.02 billion, the company is capable of delivering the vaccine fast, as it is its utmost priority. At the time of writing, the stock is 3.32% up, at $64.06.
Shareholders in the company have seen their portfolio rise as Moderna was upheld by the American federal government to deliver its vaccine among other companies. In the past year, the shares have risen 309%, they have added 229.96% YTD, risen 143.64% in the past three months but dropped 19.33% in the past one month. Such an outstanding performance has not been seen with most traditional stocks especially since the coronavirus outbreak, hence making MRNA shares a big COVID-19 win.
Moderna Conducted Vaccine Safety Test on Animals
Its shares remain a buy among different Wall Street analysts, caused by the hype on possible approval from relevant government bodies with a ready and huge global market ahead. With several states in North America pushing to reopen for business, dangers of a second coronavirus wave are forcing the public to remain cautious in the process.
However, the news on the success of the mRNA-1273 on mice is paving the way for future safe reopening. According to Dr. Barney Graham of the Vaccine Research Center at NIAID, the sub protective doses of the vaccine did not prime mice for enhanced immunopathology following the exposure.
“At first glance, it looks promising in inducing neutralizing antibody protection in mice. The results, such as they are presented, provide interesting data that are reassuring. This needs to be replicated and it needs to be peer-reviewed,” Dr. Peter Hotez, a researcher at Baylor College of Medicine said in a statement.
With the positive preliminary results, Israel is in advanced talks with the company to purchase its coronavirus vaccine, according to leading news outlets from Israel. This comes as the company announced that it plans to begin a trial of 30,000 volunteers for its vaccine next month.