Moderna Stock Jumps on COVID-19 Vaccine Race News

moderna stock jumps on positive vaccine news

Coming on the heels of the 90% effective vaccine Pfizer Inc. (NYSE: PFE) announced on Monday, there’s now news of a second vaccine that could be just as good…

Today, Moderna, Inc., (Nasdaq: MRNA) announced it’s preparing for the first analysis of its COVID-19 phase three trial.

Phase three is the final stage before FDA approval. The Moderna study has 30,000 participants, is randomized, and is placebo-controlled.

Investors reacted strongly when Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, mentioned it while speaking at the FT Live Global Pharmaceutical Summit.

Fauci said he would “be surprised if we didn’t see a similar degree of efficacy” as was reported in the Pfizer vaccine.

MRNA stock closed the day up 8.4% to close at its highest level since July 22. The move added about $2.5 billion in market cap.

To date, no vaccine has been approved by the FDA. The FDA could authorize a vaccine for emergency use as soon as next month.

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