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What happened
Coronavirus stock Modern (NASDAQ: ARNM) rose nearly 8% Thursday by mid-afternoon. Two pieces of information about the company’s coronavirus vaccine appear to support the rise.
So what
The first is Moderna’s announcement that participant assay has started in a Phase 1/2 clinical trial for mRNA-1273 in Japan. This study, conducted by a Japanese pharmaceutical company Takeda (NYSE: THANKS), seeks to register 200 people aged 20 and over.
Image source: Getty Images.
If the vaccine proves to be as effective as in trials elsewhere in the world, its use will certainly be allowed in the country, which has more than 127 million people. Takeda has agreed to distribute 50 million doses if and at the time of authorization.
The second piece of information comes from the United States. The California Department of Public Health said on Wednesday it was safe to use vaccines from a batch that had come under scrutiny after several people reportedly developed allergic reactions to their doses. initials of the lot. Following this incident, the State suspended inoculations of the batch.
Now what
Considering the performance of mRNA-1273 in previous assays, it is almost a given that it will be successful in the Japanese study. And since this is a two-dose vaccine, Japan will need much more than the initial 50 million doses that make up the current Moderna / Takeda deal. The restart of dosing from the affected batch in California also portends continued strong demand for the vaccine.
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