Moderna coronavirus vaccine effort to get $483 million in federal funding
This may help lead to a successful vaccine for the CoronaVirus . . .good news not only for smart investors, but potentially great news for all Americans!
Full disclosure: I own shares of MRNA stock, also GILD, another company working on a vaccine.... (although at this point I wouldn't "bet the farm" on buying more GILD or MRNA stock...results are still early).
Disclaimer; Nothing in this seed is meant to be a recommendation to buy or sell any stock. Investing in the Stock market involves risk and may result in the loss of some or all of the money you invest.
Related:
1. MRNA Stock Information
2. Gilead Stock Up On Positive Early Data On Remdesivir And Coronavirus
S E E D E D C O N T E N T
Moderna's headquarters in Cambridge. David L Ryan/Globe Staff
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Moderna said late Thursday that it will receive up to $483 million from the U.S. government to accelerate development of a COVID-19 vaccine.
- The Biomedical Advanced Research and Development Authority within the Department of Health and Human Services awarded the cash to accelerate the company's development of the mRNA-1273 vaccine candidate and fund it through U.S. Food and Drug Administration licensure.
- Moderna said that it plans to begin a Phase 2 study in the second quarter of 2020 and start Phase 3 testing as soon as the fall of 2020.
- The company said it plans to hire 150 new staff this year in the U.S..
- The first patient in the Phase 1 trial received a dose of the vaccine candidate March 16.
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"By investing now in our manufacturing process scale-up to enable large scale production for pandemic response, we believe that we would be able to supply millions of doses per month in 2020 and with further investments, tens of millions per month in 2021, if the vaccine candidate is successful in the clinic," Moderna Chief Executive Stéphane Bancel said in a statement.
Yet another way America's drug companies are ripping us off!
/sarc
About their technology ( Wikipedia) :
Moderna, Inc. is a Cambridge, Massachusetts -based biotechnology company that is focused on drug discovery and drug development based on messenger RNA (mRNA).
The company creates synthetic mRNA that can be injected into patients to help them create their own therapies.
Moderna was founded in 2010 under the name, "ModeRNA". It was based on Harvard University research by human cells, "dedifferentiating" mRNA into stem cells , which then differentiated into the desired cell types.
The Moderna platform develops mRNA therapeutic candidates which are delivered in liposomes , using mRNA with modified uridine nucleosides to improve folding and translation efficiency, and mRNA drug candidates targeted to specific cell types.
Its not even 9AM and Gild is up10.2%
MNRA is up11.3%