The results in its phase one vaccine trial produced antibodies on all 45 patients. Moderna may be on the right track as it received praise from the U.S.
Last May, the Massachusetts-based company started its initial trials and they reported to show positive results.
However, the data was lacking at that time and the markets on Wall Street were overly optimistic about it.
In addition, the vaccine race was also followed by the Fed trying to assess the financial situation in the U.S. as well as stress testing the banks in order to protect its economy from falling.
Moderna's Covid-19 vaccine produced antibodies to the coronavirus in all patients tested in an initial safety trial, federal researchers say.
— Bloomberg (@business) July 15, 2020
With the recent developments regarding the vaccine, it looks like Moderna is taking the reigns once again.
Last month, the U.K. also got approval from its government to use dexamethasone to combat the coronavirus for patients with severe symptoms.
Phase 3 vaccine trial scheduled this month
The initial findings from the Phase 1 trial are somewhat close to what Moderna announced in a published press release last May, as per Bloomberg. The antibody levels produced and side-effects were the additional points that the public needed to see.
However, Moderna claimed that from the Phase 1 vaccination data, their study of mRNA-1273 suggested a robust immune response across all dose levels. This week, Tal Zaks, Moderna’s chief medical officer said in a statement, as quoted by CNBC:
“We look forward to beginning our Phase 3 study of mRNA-1273 this month to demonstrate our vaccine’s ability to significantly reduce the risk of COVID-19 disease.”
As per ClinicalTrials.gov the Phase 3 vaccine trial will enroll 30,000 participants across 87 locations. Participants in the experimental arm will receive a 100 microgram dose of the potential vaccine on the first day and another 29 days later. Some patients will also receive a placebo.
Moderna stock price surged in off-trading hours
As far as the stock market is concerned, its stock price massively rallied from US$45 [AU$64] per share last May to almost $87 in the middle of the month.
Nearing the end of May, the stock plunged back to nearly $50 per share but was able to recover back above $70 levels.
As per CNBC, the stock price of Moderna increased by 16% during off-trading hours after its announcement regarding the complete results of its Phase 1 trial.
The data from Johns Hopkins University recorded over 3.4 million COVID-19 cases in the U.S., as of this writing.
Once Moderna succeeds in its other clinical trials, investors shall see if the company can deliver its promise to provide a cure.