- Moderna announced on Monday that its early trial for its coronavirus vaccine produced antibodies in all patients.
- Shares of the company surged 29% on Monday.
- The company is aiming to have the vaccine ready for emergency use in the fall.
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Shares of the pharmaceutical company surged as much as 29% in premarket trading Monday in New York after it announced that all 45 volunteers in a trial for its coronavirus vaccine produced antibodies that may help protect them against the disease.
The phase 1 trial was conducted by the National Institute of Allergy and Infectious Diseases, which is part of the National Institutes of Health.
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Moderna plans to have the drug ready for potential emergency use in the fall – a timeline that’s never been seen for vaccine development before. Following the phase 1 trial, the company hopes to soon start a mid-stage study of the vaccine and move to a late-stage trial in July.
Moderna is one of a handful of pharmaceutical companies that have skyrocketed amid the coronavirus crisis as they race to develop drugs to prevent or treat the disease. The pharmaceutical company has gained 241% year-to-date through Friday’s close.
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