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MRNA Stock Up 10% in Pre-market, Moderna to Release Omicron Variant Vaccine Early Next Year

UTC by Ibukun Ogundare · 3 min read
MRNA Stock Up 10% in Pre-market, Moderna to Release Omicron Variant Vaccine Early Next Year
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Moderna said that it had mobilized hundreds of workers last week during the Thanksgiving holiday to start studying the deadly Omicron variant.

Moderna Inc (NASDAQ: MRNA) may release a vaccine for the new omicron coronavirus variant in the coming year. The World Health Organization (WHO) has classified Omicron as a “variant of concern” due to its nature. The variant is more contagious and deadly than the coronavirus. The last variant to be termed this way was the Delta variant that surged throughout the summer in the US. Omicron can even infect people who are vaccinated. The virus contains 30 mutations that could cause high antibody resistance. Also, the mutations can result in easy transmissibility, which is unfavorable to the coronavirus vaccines.

Moderna Commences Efforts to Combat Omicron Variant

The chief medical officer of Moderna, Paul Burton, spoke about the team’s effort to combat the new Omicron variant that is now spreading across the globe. Already, Moderna said that it had mobilized hundreds of workers last week during the US annual Thanksgiving holiday to start studying the deadly Omicron variant. Burton said that the health company could release a reformulated vaccine in early 2022. This vaccine is to serve as immunization, preventing people from the new variant, Omicron. Currently, it is uncertain if the COVID-19 vaccines will suffice to fight the Omicron variant or Moderna will need new formulations.

Speaking on Andrew Marr Show on BBC, the chief medical officer said in an interview:

“We should know about the ability of the current vaccine to provide protection in the next couple of weeks, but the remarkable thing about the MRNA vaccines, Moderna platform is that we can move very fast.”

Burton also added:

“If we have to make a brand new vaccine, I think that’s going to be early 2022 before that’s really going to be available in large quantities.”

The variant has spread to several countries, including Israel and Belgium. This has prompted several countries to initiate a travel ban.

Burton said that the current vaccine might offer some protection depending on how long ago a person received their vaccination. Notwithstanding, unvaccinated people are advised to get vaccinated. Also, eligible individuals should get their booster shots.

Moderna Up in Extended Trading Session

Moderna Inc. stock is currently trading in pre-market at $363.02. This indicates a 10% increase over its previous close of $329.63. The biotech company has surged more than 115% over the past year, growing further by 215.53% in its year-to-date record. In the last five days, MRNA stock has gained 16.60%.

Despite the spike, Moderna lost 11,08 in the last three months. In addition, the company shed more than 2% over the past month.

Moderna is one of the frontiers in the release of the coronavirus vaccine. At the peak of the pandemic, the biotech company began to work on developing a vaccine. After a number of trials, the company released its vaccine, which has been administered to many.

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Ibukun Ogundare

Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience. Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.

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