Moderna jumps after preliminary Covid-19 vaccine trial results

Scientists across the globe have praised Moderna’s vaccine

Moderna shares jumped at the start of the week’s trading, after the US biotech firm announced that its Covid-19 vaccine was 94.5 per cent effective, according to preliminary data.

The company, developed its vaccine in cooperation with the US National Institute of Allergy and Infectious Diseases (NIAD), evaluated 95 infections of the novel coronavirus among the 30,000 participants of its phase three trail.

The findings suggested that the vaccine prevents the most serious infections, which Moderna CEO Stephane Bancel hailed as “game-changer.”

Markets, which had long-been depressed by continued Covid-19 uncertainty, surged last week after Pfizer and BioNTech announced that their vaccine was effective by potentially more than 90 per cent.

While the absolute superiority of either treatment has yet to be declared, scientists across the globe have praised Moderna’s vaccine. Professor of experimental medicine at Imperial College London Peter Openshaw highlighted the inclusion of “many high-risk or elderly” people in the trial, observing:

“This gives us confidence that the results are relevant in the people who are most at risk of Covid-19 and in most need of the vaccines.”

To fund its trial, Moderna received sizable funding from the US government’s Operation Warp Speed programme. Sitting US president Donald Trump welcomed the news, stating:

“Another Vaccine just announced. This time by Moderna, 95 per cent effective. For those great ‘historians’, please remember that these great discoveries, which will end the China Plague, all took place on my watch.”

Former vice-president Joe Biden, who is set to take office in January, described the breakthrough as “further reason to feel hopeful” but maintained:

“What was true with the first vaccine remains true with the second: we are still months away. Until then, Americans need to continue to practice social-distancing and mask-wearing to get the virus under control.”

By mid-morning (EDT) Moderna traded up 7.7 per cent at $96.40, 400 per cent higher than its 2020 starting level.

FURTHER READING: West African Endeavour Mining to buy Teranga Gold

FURTHER READING: PNC to buy US banking unit of Spain’s BBVA for $11.6bn

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
iPhone Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with the help of crypto or fiat
iMac Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with the help of crypto or fiat
iMac Image