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Moderna gets further $472 million U.S. award for coronavirus vaccine development

Published 07/26/2020, 10:59 AM
Updated 07/26/2020, 02:35 PM
© Reuters. FILE PHOTO: Moderna Therapeutics seen during COVID-19 in Massachusetts

© Reuters. FILE PHOTO: Moderna Therapeutics seen during COVID-19 in Massachusetts

(Reuters) - Moderna (NASDAQ:MRNA) Inc said on Sunday it has received an additional $472 million from the U.S. government's Biomedical Advanced Research and Development Authority (BARDA) to support development of its novel coronavirus vaccine.

The U.S.-based drug maker said the additional funding will support its late-stage clinical development including the expanded Phase 3 study of Moderna's vaccine candidate.

In April, Moderna had received $483 million from the U.S. federal agency that funds disease-fighting technology, when the experimental vaccine was in an early-stage trial conducted by the U.S. National Institutes of Health.

"Encouraged by the Phase 1 data, we believe that our mRNA vaccine may aid in addressing the COVID-19 pandemic and preventing future outbreaks," Chief Executive Officer Stéphane Bancel said in a press release.

BARDA's total funding for the experimental vaccine of Moderna, the first in the United States to begin human trials of a coronavirus vaccine, is now about $955 million.

The vaccine uses synthetic messenger RNA (mRNA) to inoculate against the coronavirus. Such treatments help the body immunize against a virus and can potentially be developed and manufactured more quickly than traditional vaccines.

A Phase 3 study, conducted in collaboration with the National Institute of Allergy and Infectious Diseases, will begin on July 27 and involve about 30,000 participants, according to the company.

Moderna said it remains on track to be able to deliver about 500 million doses per year, and possibly up to 1 billion doses per year, beginning in 2021.

The announcement about further funding came two days after the drug developer said its formula used in developing the vaccine was not covered under patents owned by Arbutus Biopharma (NASDAQ:ABUS)

© Reuters. FILE PHOTO: Moderna Therapeutics seen during COVID-19 in Massachusetts

Pfizer Inc (NYSE:PFE), Novavax (NASDAQ:NVAX) Inc, Britian's AstraZeneca (NYSE:AZN) Plc are other few drug makers that received funding from BARDA for coronavirus vaccine development.

Latest comments

Great news, stock will keep going higher until vaccine approved
Might want to pay abus for the delivery patent .
Modt likely, MRNA will not need to pay ABUSBut, if they do, it can easily be covered by the price of vaccine which appears to be sponsored by the US governmentThe rumors about vaccine delay due to patents are extreme nonsenseIf the vaccine is good, it will onviously get full support of US governmentSo all the ‘expert’ srticled from ladt week are pure nonsense, written by prleople who have no technical knowledge or any understanding of patent technology
This is just what happened with Pfizer last week. All that happened was that Trump cut a check to drug company to buy 100 million doses of a non-existent vaccine. Pure, simple market manipulation.
Yes, vaccines are total nonsense. You should go to a COVID party immediately to dissuss this fake news with your friends.
good idea!! and don't use mask please!! remember what you were saying all this time. Thank you guys ❤️
Fauci surely owns lot of Moderna shares
If I understand this correctly. The U.S. government simply gave Moderna a billion dollars to developed a vaccine that they can sell back to us. Free R&D money.
Yep. That's it. That there s revolution happening in the streets is of no cncern to the market.
I don't need any fake vaccine for fake covid !
I cant imagine how much money you permabears have lost betting against the US. The anger is palpable.
Not betting against the U.S. Betting against fake, inflated markets.
A Phase 3 study, conducted in collaboration with the National Institute of Allergy and Infectious Diseases, will begin on July 27 and involve about 30,000 participants, according to the company.
And fail
Market is being run by rich and greedy. Look no further to the people in WH
all companies announce vaccine news to get funds from the government.. they are not even close to a vaccine
They are starting phase 3 trials tomorrow, lol
That means a vaccibe CV is at least 6 to 12 months away, or longer, if at all. lol
"... starting in 2021". Too much euphoria with vaccine news, reality is not factored in the stock market (yet).
Lets pump more taxpayer money into big pharma by lowering unemployment benefits for a vaccine that is possibly necessary for a very small percentage of the population at best. This is why I usually dont vote. Just when you start to think the government has your back, they pull the rug. I want the economy back up and running just like everyone else. I want to get back to my normal routine. Instead, my livelihood for myself and family has been greatly dimished only to line the pockets of politicians and big pharma. I find it absolutely ridiculous that Congress will be going on summer recess from August 7 until the end of the month. This has become the deadline to create legislation. Where the F have they been for the last couple of months while people were dipping into savings or running up credit cards to pay mortgages. And now a payroll tax cut? **** Lets compound the money big pharma has by freeing up money with another tax cut. Disgusting!
Congress moved on Stimulus 2 months ago. Mitch had been sitting on it. Republicans now have come up with their own stimulus package ignoring Congress for more than 2 months
This stock will hit +63% tomorrow
Denies millions of Americans employment benefits, throws taxpayer money at Trump’s “vaccine czars” company. No fraud here....
My take....this Mon up 100%
I think this stock up to 100 this week and the end year maybe 150
Share will rise by 20-30% on Monday
And go back down in a week. CEO’s will cash their stocks
Whew!
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