Moderna Inc. (MRNA) says its Covid-19 vaccine more than 94 percent effective in Phase-III trials
Pfizer shares fell nearly 3 percent in the pre-market trading Monday following Moderna’s announcement.
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Staff or Guest writer for The Dog of Wall Street.
2020-11-16 09:44

Moderna Inc. (MRNA) shares have jumped more than 14 percent in the premarket trading Monday after the Massachusetts-based biotechnology company announced that its Covid-19 vaccine candidate achieved 94.5 percent efficacy in meeting its key objective in the Phase-III trial.

The company plans to submit a request to the U.S. Food and Drug Administration (FDA) for emergency authorization of its vaccine in the coming weeks. MRNA, which enrolled over 30,000 individuals in the Phase-III trial, said the primary objective of the trial is based on the analysis of coronavirus cases beginning two weeks after the second dose of the drug.

Moderna said it did not observe any serious side effect during the trials. The latest announcement came just one week after Pfizer (PFE) reported that its Covid-19 vaccine was 90 percent effective in preventing the infection. 

However, there is a notable different between the storage requirement of the two drugs. Pfizer’s vaccine needs to be stored at an ultra-cold temperature of -70°C. On the other hand, Moderna’s vaccine does not need to be kept at a super cool temperature, as it can remain stable at normal refrigeration temperature of 2 to 8 °C, making it easier to distribute. 

Pfizer shares fell nearly 3 percent in the pre-market trading Monday following Moderna’s announcement.

With the latest news, United States has now two vaccines ready for emergency approval in the next month. Both the vaccines, developed with the latest technology called mRNA, are expected to significantly curb the virus, which has infected mor than 50 million people around the world, leaving 1.3 million dead. The announcements also come at a critical time when Covid-19 cases are rising. 

Moderna (MRNA) shares have jumped nearly 15 percent so far this year. Comparatively, Pfizer shares stayed relatively flat on year-to-date basis.


Disclaimer: I have no positions in any of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article. All information should be independently verified and should not be relied upon for purposes of transacting securities or other investments. See terms for more info.

Published On
2020-11-16 09:44

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Staff or Guest writer for The Dog of Wall Street.



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