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Moderna (MRNA) stock is up over 18% in the pre-market after adding 4.54% yesterday. The spike is attributed to the announcement that the coronavirus vaccine trial demonstrated a robust immune response.
As the race for a coronavirus vaccine nears the end, Moderna Inc. (NASDAQ: MRNA) stock is set to reap most from the unprecedented scale of demand and supply. The company has been working on a coronavirus vaccine, mRNA-1273, which primarily works by encoding for a prefusion stabilized form of the Spike (S) protein in the SARS-CoV-2 virus to trigger the body to produce an immune mechanism against the disease. With preliminary results indicating its safety measure to be top notch with minimal side effects, it is likely to get more endorsements earlier enough.
The largest beneficiary will be Moderna stock value that might skyrocket to reach new ATH. Amazingly, it shares have added 438.85% in the past year, added 283.64% YTD, jumped 101.45% in the past three months, added 18.53% in the last one month and jumped 21.86% in the past five days. The high score performance of Moderna stock can be mostly attributed to investors flicking into the COVID-19 vaccine stocks to rise on an anticipated rally. The company enjoys endorsements from different stakeholders including the United States federal government that has invested over half a billion dollars in the research and development of the vaccine from Moderna.
At the time of writing, in the pre-market, MRNA stock us 18.59% up, at $88.99.
In addition to $27.91 billion in market capitalization, the company appears set to deliver a well developed and researched vaccine that might be its financial game changer.
Better Days Ahead for Moderna Stock
On Tuesday, the company said that its vaccine produced a “robust” immune response in all 45 patients in its early stage human trial. Moderna’s chief medical officer, Tal Zaks, said in a statement:
“These Phase 1 data demonstrate that vaccination with mRNA-1273 elicits a robust immune response across all dose levels and clearly support the choice of 100 µg in a prime and boost regimen as the optimal dose for the Phase 3 study. We look forward to beginning our Phase 3 study of mRNA-1273 this month to demonstrate our vaccine’s ability to significantly reduce the risk of COVID-19 disease”.
With the coronavirus reported cases having roped 13 million globally, any form of success in the vaccine will trigger a huge breakout that might see the initial rally looks dismal. Time will however dictate if the vaccine will be viable on a mass scale due to mostly its cost price per head and also its further study on long term effects in the body.
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