Moderna (NASDAQ:MRNA) +10.5% after-hours on news it will receive up to $483M from the U.S. government to accelerate development of a COVID-19 vaccine.
The company says the Biomedical Advanced Research
and Development Authority within the U.S. Department of Health and Human
Services will fund development of the mRNA-1273 vaccine candidate to
licensure with the Food and Drug Administration.
Moderna plans to begin a Phase 2 study in Q2 and start Phase 3 testing as early as fall 2020.
“By investing now in our manufacturing process
scale-up to enable large scale production for pandemic response, we
believe that we would be able to supply millions of doses per month in
2020 and with further investments, tens of millions per month in 2021,
if the vaccine candidate is successful in the clinic,” says CEO Stéphane
Bancel.
https://seekingalpha.com/news/3561544-moderna-to-get-federal-funding-for-coronavirus-vaccine-effort
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