[ad_1]
Moderna’s market cap briefly exceeded $ 100 billion on Wednesday, as COVID-19 vaccinations continue to rise around the world.
Shares of the US drug development company rose 6.3% to a new high, pushing its market value to the limit before closing up 4.9% at $ 246.66.
Moderna shares have jumped more than 220% in the past 12 months as drugmakers rush to develop a vaccine for the coronavirus. The first doses were delivered in record time with the obtaining of an emergency use authorization for the Moderna vaccine in the United States last December, just one week after the first authorization granted to the American company Pfizer and its German partner BioNTech.
This hack helped make the biotech company a household name.
At the end of June, Moderna’s vaccine was cleared for import into India, where the highly contagious Delta mutant took root. Other vaccines authorized in the South Asian country include AstraZeneca, Bharat Biotech, and Russian Sputnik V.
The Cambridge, Massachusetts-based company also said its vaccine produced antibodies to the transmissible delta mutant, albeit at a lower level than the main virus. Moderna also targets other viruses such as Zika and influenza, as well as diseases such as HIV and cancer.
AbbVie Inc and Amgen Inc, two other US-based biotech companies, have a market capitalization of over $ 100 billion.
Source link
