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Moderna Edges Closer to Developing COVID-19 Vaccine

M. Ali 15 July, 2020 11:37 pm Global Stock Market, Market Update

The stock of Moderna surged by as much as 18% on Wednesday as the company announced positive results for a coronavirus disease (COVID-19) vaccine that it is developing and is currently under clinical trials.

In phase one of the clinical trials, there were positive immune responses in all 45 cases with safe results.

The company is set to test the vaccine with 30,000 participants on July 27 in the third phase of the trials.

Moderna has received roughly $500 million in government support to develop a vaccine.

The stock is currently up by 7.8%, trading at a share price of $80.99.

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