Shares of Moderna (NASDAQ:MRNA) stock are reaching heights not seen since July on Thursday morning after more vaccine news on Wall Street.
The move comes after the biotechnology company announced on Wednesday evening that it completed its data accumulation for Phase 3 of its novel coronavirus vaccine trial. Moderna said there has been an “acceleration in rate of COVID-19 disease across trial sites.” In turn, the data will include much more than 53 cases, which was an endpoint for the study.
Moreover, Moderna said it is preparing to submit these figures to an independent data safety monitoring board. And as CNN notes, the biotech company hopes to announce those results by the end of the month.
Additionally, here’s more information from the MRNA stock news release:
“The Phase 3 study was designed in collaboration with the FDA and NIH to evaluate Americans at the highest risk of severe COVID-19 disease and included more than 7,000 Americans over the age of 65. It also included more than 5,000 Americans who are under the age of 65, but have high-risk chronic diseases that put them at increased risk of severe COVID-19, such as diabetes, severe obesity and cardiac disease. These medically high-risk groups represent 42% of the total participants in the Phase 3 COVE study.”
Overall, Moderna said it expects to be able to produce 20 million doses of the vaccine in 2020. And that number jumps to between 500 million and 1 billion doses worldwide in 2021.
MRNA stock was up 5.2% as of Thursday morning.
On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Nick Clarkson is a web editor at InvestorPlace.