- Moderna (NASDAQ:MRNA) yesterday rose more than 20% on the news of positive results in its pivotal trial for Covid-19 vaccine candidate mRNA-1273. It soared nearly another 20% to almost $180 per share this morning after last night's news of a Dec. 17 date for a panel to review the trial results and submit a recommendation to the FDA.
- That's reversed in afternoon action, with the stock now down 7.5% for the day to $141.
- Some profit-taking is surely in play after more than a doubling of the stock price in November seemed to anticipate Monday morning's trial news. As for the FDA hearing, that doesn't seem like news at all (was mRNA-1273 not going to get a quick hearing?).
- In other developments, Stat News reports the White House has scheduled a Covid-19 "vaccine summit" on Dec. 8 (two days ahead of a panel that will look at the Pfizer/BioNTech vaccine candidate) in order to help pressure for quick FDA action (among other things).
- https://seekingalpha.com/news/3640491-moderna-shares-reverse-big-early-gains-in-bout-of-profit-taking
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