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What happened
Modern (NASDAQ: ARNM) provided a top-down ride for its investors on Friday, with stock trades up to 1.5% higher and 8.5% lower than its close the previous day. In the end, he landed mostly flat on the day. Several snippets of news were responsible for the push-pull dynamics.
So what
Moderna announced that its partner in Japan, Takeda Pharmaceutical, has submitted a New Drug Application (NDA) for its now famous coronavirus mRNA-1273 vaccine (known as TAK-919 in this country).
Image source: Getty Images.
In another potentially positive development, a study at the La Jolla Institute for Immunology in California suggests that T cells produced by mRNA-1273 are effective against the four currently most worrying variants of the coronavirus. The catch is that the research is based on a set of lab tests and therefore does not offer definitive proof. In addition, the research has not yet been peer reviewed. In addition, Pfizer and BioNTechBNT162b2 was found to have similar properties.
On a more disheartening note for Moderna, Reuters reported on Friday that new research indicates that AZD1222, the rival coronavirus vaccine candidate from AstraZeneca and the University of Oxford, is effective against the P1 variant, or “Brazil”.
Now what
None of these developments being decisive or capital, shareholders seemed unsure how to trade Moderna on Friday. However, I think the news was generally good for biotech, especially the Japan New Drug Application (although that was more or less expected). Moderna stock always seems like a good investment.
This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are motley! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.
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