Moderna Inc. (MRNA) - Get Report shares jumped higher Friday after Jim Cramer said the drugmaker is nearing the development of a vaccine that could protect against certain forms of cancer.
Cramer, speaking on CNBC's Squawk on the Street program, said the developments were "pre-clinical" but nonetheless remarkable and are based on the drugmaker's messenger-RNA delivery techniques, which it used to develop its mRNA-1273 coronavirus vaccine.
"This is not an RNA messenger vaccine company for COVID," Cramer said. "This is a new way to be able to stop diseases and people I know that are working with this company know that they may have a vaccine against certain forms of cancer."
"That's how powerful RNA messenger is," he added "I've been reluctant to say that but I have it from more than one source. I have it from two sources, both of whom are involved ... and it's just incredible. We're taking about a Noble Prize. It works."
Moderna shares were marked 5.2% higher in early trading Friday and changing hands at $156.00 each.
Alongside a similar messenger-RNA vaccine developed by Pfizer (PFE) - Get Report and its German partner BioNTech (BNTX) - Get Report, Moderna has taken the lead role in the government's accelerating rollout.
Late Thursday, Moderna said its mRNA-1273 coronavirus vaccine, which earned Emergency Use Authorization from the U.S. Food & Drug Administration in late December, should generate around $18.4 billion in sales this year and deliver the drugmaker's first annual profit since 2011.
CEO Stephane Bancel said Moderna plans to produce as many as 1 billion doses of mRNA-1273 this year, adding that it's working on boosters that would address the growing spread of coronavirus variants first identified in the United Kingdom and South Africa.
https://www.thestreet.com/investing/moderna-extends-gains-as-jim-cramer-talks-of-cancer-vaccine
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