One of the companies to have come into focus over the past months is Moderna Inc (NASDAQ:MRNA), owing to its work on the development of a COVID 19 vaccine. In other words, the Moderna stock has emerged as one of the many potential ‘coronavirus plays’ for investors. Yesterday, the company provided a vital update with regards to its COVID 19 vaccine. Here is a closer look at the update and other developments at Moderna.
The Chief Executive Officer of Moderna, Stephane Bancel, spoke at the yearly Tech Live conference hosted by the Wall Street Journal earlier this week. Bancel stated that if the interim results from the clinical trial of its experimental COVID 19 vaccine product are positive then the United States government might authorize it for emergency use by December 2020.
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This is a significant announcement and something that could be considered positive by investors. That being said, Bancel was also quick to add that if it takes longer to obtain the sufficient number of interim results, then the authorization might be awarded in the early days of 2021.
Currently, Moderna has one of the better known COVID 19 vaccine development programs in the United States and has also managed to strike up key collaborations. The company is also working on a vaccine in collaboration with pharmaceutical giants like BioNTech and Pfizer Inc.
In this regard, it is also important to point out that Pfizer provided an update about its COVID 19 vaccine last week.
The Chief Executive Officer of the company Albert Bourla stated that if there is positive data regarding its vaccine the company is going to apply for Emergency Use Authorization that will be applicable to the United States by the middle of next month.
Earlier on in October, Moderna revealed that it is going to apply for reviews in real-time for its vaccine in Europe. The company decided to go for it after the health regulatory body in the European Union started rolling reviews.
The Moderna Stock
If the company does manage to get the necessary approvals for its COVID 19 vaccine candidate, its revenues are going to jump considerably.
It should be noted that Moderna has already inked an agreement with the United States government worth $1.525 billion for 100 million doses of the vaccine. There is also an option to add 400 million more doses.
A similar deal has been signed with the Canadian government for 20 million doses, with the option to add another 36 million. The financial details have not been disclosed. Moreover, the company is working on other products as well and hence, not totally dependent on the COVID 19 vaccine.
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