Stock Market
Moderna COVID-19 Vaccine 95% Effective in Trial, Shares Gained 10.69%
Moderna on Monday announced its COVID-19 vaccine is 94.5 percent effective in a trial of 30,000 patients.
This was much higher than the over 90 percent efficiency announced by Pfizer and BioNTech of Germany about a week ago.
Moderna could get emergency user authorisation from FDA by the end of the year given the available information.
The company’s share rose by 9.67 percent or $8.64 to $98.03 per share on Monday following the official announcement.
While Pfizer shares declined by 3.63 percent or $1.40 to $37.22 per share as investors are now leaning towards Moderna.
Moderna, an American biotechnology company based in Cambridge, Massachusetts, focused on drug discovery, drug development, and vaccine technologies based exclusively on messenger RNA.