Moderna to Publish COVID-19 Vaccine Results by End of November

Moderna to Publish COVID-19 Vaccine Results by End of November
November 13, 2020

 

Pharmaceutical company Moderna Inc (Nasdaq: MRNA) has announced that it has adequate info from the late-stage trial of its potential COVID-19 vaccine to start a scheduled interim analysis. However, the company did not provide any precise date for publishing data on the vaccine’s efficacy but anticipates releasing the relevant info by the end of this month. The stock of Moderna closed at $87.81, up $5.37 or 6.51% from the prior close.

The Massachusetts-based company stated that the clinical trial data is being grouped for presenting to the Data and Safety Monitoring Board, an autonomous organization. The Board will study the data and give the necessary suggestions.  The company’s announcement has come at a time when the US and Europe are witnessing another wave of COVID-19 cases.

Moderna is conducting a clinical trial of roughly 30,000 volunteers, with 50% of the participants receiving a placebo, while the remaining 50% receiving the potential vaccine. The placebo is basically a dose of saline that will not have any impact on the volunteers.

For the vaccine to be reviewed for approval by the US FDA (Food and Drug Administration), a minimum of 53 volunteers who have taken part in the clinical trial needs to be infected with COVID-19. The trial reached the 53-milestone on Wednesday, but Moderna will not know whether a participant became ill on taking the vaccine or the placebo. As mentioned earlier, Moderna is now collecting info to forward it to the Data and Safety Monitoring Board, an autonomous team of professionals.

If a statistically considerable number of participants had received the placebo, it could be inferred that the vaccine is efficient against the coronavirus. As COVID-19 cases are increasing rapidly in the US, over 53 applicants will become sick with COVID-19 by the time the final announcement is made. In the meantime, Dr. Anthony Fauci, the country’s noted expert on infectious diseases, stated that Pfizer’s positive results are welcome news for Moderna.

Fauci stated that Pfizer’s positive results from the mRNA technology, which has not received approval so far, were better than anticipated. The news about Moderna’s COVID-19 vaccine has come soon after the vaccine developed by Pfizer Inc and BioNTech, a German biotechnology firm was over 90% efficient at saving people from infection than the placebo-based saline dose.

The upbeat news about the COVID-19 vaccine is expected to keep the stock of Moderna bullish in the short-term.

The historical price chart indicates that the stock is rising after consolidating at 54 levels. The MACD indicator has positive reading while the stock is trading above its 50-day moving average. Therefore we are anticipating the stock to remain bullish in the near-term.

mrn - technical analysis - 13th November 2020

Disclaimer: Any financial trading analysis offered here is our opinion and is not intended as advice or direction for investors. We cannot guarantee the success of any trades made as a consequence of this article, and we encourage traders to incorporate a strong money management strategy to limit losses when they enter the markets. Please use this article as part of your own research before formulating strategies prior to trading.

Janine

Janine

Janine is our editor for related stock market news. Andrew and Janine will be focusing on providing the latest trends and where the next hit could be


Related Articles

Pharma Chain Walgreens Beats Q2 Estimates, Comp Sales Miss

  International pharmacy chain Walgreens Boots Alliance, Inc. (Nasdaq: WBA) reported fiscal 2020 second-quarter earnings that declined from the comparable

Walmart Beats Q2 Earnings Expectations, Boosts FY20 View

  The world’s largest retailer Walmart Inc. (NYSE: WMT) reported a swing to profit in the second quarter of fiscal

Supermarket Kroger Revenues Surge on Covid-19 Stockpiling

  The supermarket chain, Kroger Co (NYSE: KR) reported better-than-anticipated fiscal 2020 first-quarter results, aided by COVID-19 related stockpiling by