Data from eight patients give Moderna a $7B bump
Moderna released the first peek at human data from its in-development coronavirus vaccine, in which a handful of patients developed neutralizing antibodies to the virus at levels similar to people who had recovered from infection. The results, from just eight volunteers, added about $7 billion to the company’s market value.
As STAT’s Helen Branswell reports, Moderna’s vaccine was generally well tolerated, according to the company, with redness at the injection site as the most common side effect. Some experts wanted more detail before commenting on the data, but others said the early results, while limited, were generally encouraging. Moderna has already received the FDA’s blessing for a Phase 2 trial and plans to start a pivotal study this summer.
Meanwhile, the disclosure sent Moderna’s share price up about 25%, valuing the company at more than $30 billion. Moderna has now more than quadrupled in value in 2020, a year in which its only pipeline progress is tied to the coronavirus vaccine. Hours after releasing the data, Moderna put out a plan to raise more than $1.2 billion in a stock sale.
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As STAT’s Helen Branswell reports, Moderna’s vaccine was generally well tolerated, according to the company, with redness at the injection site as the most common side effect. Some experts wanted more detail before commenting on the data, but others said the early results, while limited, were generally encouraging. Moderna has already received the FDA’s blessing for a Phase 2 trial and plans to start a pivotal study this summer.
Meanwhile, the disclosure sent Moderna’s share price up about 25%, valuing the company at more than $30 billion. Moderna has now more than quadrupled in value in 2020, a year in which its only pipeline progress is tied to the coronavirus vaccine. Hours after releasing the data, Moderna put out a plan to raise more than $1.2 billion in a stock sale.
Read more.
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