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Modern (MRNA) – Get a report the shares printed a new active trading record on Tuesday amid reports that its coronavirus vaccine achieved a higher rate of effectiveness against Delta variants than that of its leading Pfizer (PFE) – Get a report– made rival.
Investors focusing on full U.S. Food & Drug Administration approval – which could come before Labor Day, according to the New York Times – a medical journal released details of a study suggesting that not only Moderna’s mRNA-1273 coronavirus vaccine more effective in preventing Delta-variant infections, but it could also be used as a booster injection for patients who have previously received the two-dose regimen of Pfizer or Morderna.
That, along with reports that the Pentagon is ready to make vaccinations mandatory for the nation’s 1.3 million military personnel, could trigger a surge in Moderna’s short-term vaccine sales forecast, which was estimated last week at about $ 20 billion.
“We are delighted that our COVID-19 vaccine is showing sustainable efficacy of 93% over six months,” CEO Stéphane Bancel told investors last week, “But recognize that the Delta variant is a significant new threat, so we must remain vigilant. “
Moderna shares rose 1% early in Tuesday to change hands to $ 488.30 each after hitting an all-time high of $ 497.17 earlier in the session, pushing the cumulative gain of the ‘share at around 374% and set its market value at just under $ 200 billion.
Shares closed at an all time high on Monday after obtaining provisional approval from the Australian government.
Pfizer shares, meanwhile, rose 0.6% to trade at $ 46.27 each.
Moderna last week posted higher-than-expected second-quarter earnings of $ 6.46 per share, down from a loss of 31 cents per share for the same period last year, as vaccine sales climbed to $ 4.2 billion.
In a separate statement, Moderna noted that studies indicate that its coronavirus vaccine remains close to its initial 94% efficacy rate around six months after the second dose, but added that booster shots may still be needed. for the winter flu season.
Pfizer, for its part, said sales of its BNT162b2 vaccine, which it developed alongside its German partner, BioNTech (BNTX) – Get a report, could reach $ 33.5 billion this year by increasing its 2021 profit forecast to $ 3.95 to $ 4.05 per share,
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