Moderna Shares Jump On $1.5 Billion U.S. Contract For COVID-19 Vaccine

by davidscott

Samuel Case, FISM News



Shares of Moderna rose more than 5% on Wednesday after analysts said a $1.5 billion coronavirus vaccine supply agreement with the U.S. government could lead to similar deals with other countries.

The United States and Moderna announced the agreement for 100 million doses of its potential COVID-19 vaccine late on Tuesday.

The company’s vaccine candidate, mRNA-1273, is one of the few that have already advanced to the final stage of testing.

The deal confirms Moderna’s experimental vaccine is one of the leading contenders, said BMO analyst George Farmer, who has an “outperform” rating on the stock.

Effective vaccines and treatments are seen as essential in halting the COVID-19 pandemic, with governments also signing deals for potential vaccines from companies such as AstraZeneca and Pfizer.

Under the contract, Moderna will provide about 100 million doses, with the price coming to around $30.50 per person for a two-dose regimen.


Sourced from Reuters American Wire, edited for brevity


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