MRNA Stock Price Up 5% as Moderna to Start Testing COVID-19 Vaccine on 30,000 People in July

UTC by Christopher Hamman · 3 min read
MRNA Stock Price Up 5% as Moderna to Start Testing COVID-19 Vaccine on 30,000 People in July
Photo: Depositphotos

Moderna (MRNA) stock price is climbing to its ATH of $69 again. Currently, the shares are trading at around $63.

Moderna Inc (NASDAQ: MRNA) stock price is up over 5% now. Sources say that the company has revealed its intentions to test as many as 30,000 people in phase 3 of its mRNA 1273 vaccine trials. 

The new phase of trials is expected to start in July. This is about three months earlier than planned. Initially, Moderna was supposed to start in September.

At the time of filing this report, Moderna (MRNA) stock price was $63.15 while its ATH is $69.

Moderna (MRNA ) Stock Price Rises as Trials May Also Take Place Overseas

The Director for the National Institutes for Allergy and Infectious Diseases (NIAID) Fr. Anthony Fauci has also indicated that testing may take place in other countries. He indicated this in an interview with the JAMA medical journal. 

Moderna (MRNA) however didn’t disclose this. As per Moderna’s plans, these trials will be part of an exclusive club of large scale medical trials in history. There was the 2005-2011 720,000 Albendazole trial in India and the 11,000 strong trials in the UK in 2015 for Aspirin prevention of cancer.

This comes as the world is set to ease movement restrictions. The numbers of the dead and infected are rising. COVID-19 pandemic is also affecting global economies. The announcement is seen as good news for many people. Being one of the first candidates for a vaccine, many are hoping that m-RNA 1273 will be successful. 

The first and second phase trials have been announced before the full details of the data have been shared. This is a breach of routine procedures that could identify flaws in the released data. It also hampers the scientific community from querying the data presented. 

Participants of the phase 1 trials had in a limited release of its data began producing antibodies for both high and lower doses of the vaccine candidate. A higher 100 microgram dose will be used in the third phase trials. This is to increase the immune system’s response and reduce reactions simultaneously.

Moderna isn’t currently manufacturing any drugs. The biotech company has entered into a partnership with Swiss Pharmaceutical Company Lonza to manufacture up to 1 billion doses. Doses for the continental U.S. will be manufactured at Moderna’s facilities. 

Moderna has indicated that it manufactured the required number of doses to start trials.

Other Issues Have Arisen

Moderna (MRNA) raised a few eyebrows after a recent stock sale by Chairman Noubar Afeyan’s Flagship Pioneering. While such stock sales weren’t routine, the timing of the stock sales was seen as questionable by industry stalwarts. Also noted was the seemingly close relationship between the National Institute of Allergy and Infectious Diseases (NIAID) and Moderna. 

Many within biomedical circles are questioning the closeness. With the NIAID being a government organization, several lines shouldn’t be crossed. Business and government are separate environments. many have felt that the spirit of fair play may have been violated one way or the other. 

There are over 100 COVID-19 vaccine candidates undergoing trials globally. 

As the COVID-19 situation worsens, we are going to see how far the cookie crumbles. One thing is certain: the COVID-19 pandemic will sooner or later be a thing of the past (and we hope that it will be sooner).

For more coronavirus updates, please, follow this link.

Business News, Editor's Choice, Market News, News, Stocks
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.

Related Articles