Shares of Moderna rose by almost 20% after news of the vaccine

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Shares of Moderna rose by almost 20% after news of the vaccine

19.11.2020 News

The vaccine, developed by biotechnology company Moderna, is effective in 94.5% of cases. This result was shown by the intermediate results of the third phase of clinical trials, the company said. On this news, Moderna shares went up.

In the pre-market, the company’s quoting rose by more than 18%, rising above $ 105 per share. For the company, this cost of quotations is an absolute maximum. Moderna has not traded above $ 100 apiece since its launch.

According to the company, testing of the vaccine was conducted with the participation of 30 thousand people. Of these, only 95 subjects became infected with coronavirus. At the same time, 90 cases occurred in the group that took placebo. Thus, of those who received the vaccine, only five became ill, and the disease was mild for all five people.

A week ago, the news about the success of its own vaccine was shared by the pharmaceutical giant Pfizer. According to the company, they are developing the vaccine together with the German BioNTech, and it shows an efficiency of 90%.

The results in both companies are still preliminary. If further research shows that their vaccines are safe, then both Moderna and Pfizer will request permission for its use in emergencies from the US Food and Drug Administration, writes Bloomberg. In a statement, Moderna said it could receive approval from regulators in the coming weeks.

A key advantage of Moderna is that it does not require storage at very low temperatures, unlike Pfizer. Moderna expects that the vaccine can be stored for 30 days at a standard temperature of + 2-8 °C and 60 days at -20 °C.

Companies that have suffered the most from the pandemic have responded positively to the news of the Moderna vaccine. For example, shares of Delta Air Lines are growing in the premarket by 5.5%, Boeing – by 4%.

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