Moderna (NASDAQ:MRNA) has jumped 10.3% after hours following the news that it has a supply agreement with the U.S. government for an initial 100M doses of its COVID-19 vaccine.
The award covers up to $1.525B for the initial doses of mRNA-1273; it contains an option for the government to buy up to an additional 400M doses.
The deal contains incentives for timely delivery of the vaccine.
Combined with the previous award from BARDA of $955M, the announcement brings government commitments for mRNA-1273 up to $2.48B.
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