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Moderna (MRNA) stock price is rising. The rally is fueled by the company’s announcement that its COVID-19 vaccine candidate produced neutralizing antibodies in all 45 participants.
Moderna Inc (NASDAQ: MRNA) stock rose by 15.88% to $92.72 to retest the previous ATH. Investors in the company had something concrete to hold on and wait for a higher call. The shares have not disappointed as they have returned more than 517% in the past year.
For those who invested in the company during the coronavirus pandemic wake, their portfolio is up approximately 345%. The outstanding performance has made other traditional stocks’ gains look very dismal.
The hype in the coronavirus vaccine stocks has made them rally despite the parent companies not having any product in the market. Mare speculation and high anticipation of vaccine approval has made them realize the gains so far.
An assumption can only be made that the rally will intensify once a vaccine has been rolled out for mass production and verified for safety use. Moderna Inc has been seen ramping up its production capabilities, even long before its vaccine has undergone through all the required procedures.
Ordinarily, a vaccine takes approximately 5-7 years to be approved for human use, but the speed at which coronavirus vaccine is being developed is mind blowing and one can only hope the said companies are working to give out quality drugs over quantity.
The company said that it can produce up to 1 billion vaccines per year, sentiments which were welcomed well by its investors. Being among President Trump’s choice to deliver to American people, the company is being looked upon to deliver the best assets of its class.
Moderna (MRNA) Stock in the Verge to Breakout
Moderna (MRNA) stock at the time of reporting was breaking through its last hurdle to swim through new unmarked territories. The rally will now be determined by the level of investors willingness to risk and also the vaccine clinical results.
In the latest update from the company, its COVID-19 vaccine candidate produced neutralizing antibodies — thought to be a key benchmark for an effective coronavirus vaccine — in all 45 participants in a Phase 1 clinical trial.
However there are still more tests that need to be concluded before the drug can pass for mass usage. “We still do not know what level of antibodies is needed for protection (the correlate of protection),” Raymond James analyst Vincent Chen wrote in a note to investors. “But these levels look to be above the benchmark provided by the FDA’s guidelines for convalescent sera donation,” added he.
“Moderna’s investigational vaccine is currently in a Phase 2 trial, with 600 participants split between two age cohorts — 18 to 55-year-olds and 55 years old and older — and is expected to proceed to a late-stage randomized, placebo-controlled clinical study on July 27, with up to 30,000 people enrolled. The primary endpoint in the Phase 3 trial will test whether the vaccine can prevent symptomatic COVID-19 disease,” reported MarketWatch.
The final results will significantly affect the direction that the stocks take.