Moderna surges 11% after Trump says US government reached deal for 100 million doses of its coronavirus vaccine

AP Photo/Hans PenninkNurse Kath Olmstead, right, gives volunteer Melissa Harting, of Harpersville, N.Y. an injection as the world’s biggest study of a possible COVID-19 vaccine, developed by the National Institutes of Health and Moderna Inc., gets underway Monday, July 27, 2020, in Binghamton, N.Y.

  • President Donald Trump on Tuesday announced that the US government reached a deal with Moderna for 100 million doses of its coronavirus vaccine candidate.
  • Shares of Moderna spiked as much as 11% in premarket trading Wednesday.
  • The company separately announced the deal is worth $US1.53 billion and gives the government the option to purchase up to 400 million additional doses of its coronavirus vaccine candidate.
  • Watch Moderna trade live on Markets Insider.
  • Read more on Business Insider.

Shares of Moderna spiked as much as 11% in premarket trading Wednesday after President Donald Trump said on Tuesday that the US government has reached a deal to purchase 100 million doses of the company’s coronavirus vaccine candidate.

Moderna announced separately on Tuesday that the deal is worth $US1.53 billion, and that it gives the government the option to purchase up to 400 million additional doses of its coronavirus vaccine candidate, mRNA-1273. The COVID-19 vaccine began late-stage human trials in July.

The US government previously awarded Moderna $US955 million for vaccine development – the new round of purchases brings its total investment to $US2.48 billion, the company said in a press release.


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“We are investing in the development and manufacture of the top six vaccine candidates to ensure rapid delivery,” Trump said during a Tuesday press conference at the White House. “The military is ready to go. They’re ready to deliver a vaccine to Americans as soon as one is fully approved by the FDA, and we’re moving very close to that approval.”


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The US government also has made agreements with other pharmaceutical companies for potential COVID-19 vaccines, including Pfizer,Johnson and Johnson, Sanofi, and GlaxoSmithKline.

The deals are part of the Trump administration’s Operation Warp Speed program, which is devoted to accelerating the development, manufacture, and distribution of COVID-19 vaccines.

Moderna has gained roughly 253% year-to-date through Tuesday’s close.

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