Companies around the world are working hard to create a COVID-19 vaccine. However, the preclinical biotechnology company Moderna is one of the front-running candidates when it comes to creating a vaccine. However, there are certain problems as well.
For example, last week more precisely on May 19, shares of Moderna closed at a record high of $80.00. The shares of the company reached this result after the company released some details regarding the positive interim clinical data.
Moreover, Moderna announced it would sell $1.34 billion in stock to cover the costs associated with the experimental COVID-19 vaccine. However, on the next day stock fell to $71.67. A lack of clinical clarity in the data provided to investors had a negative impact on shares of Moderna.
Interestingly, in 2019 the company’s revenue reached $60 million thanks to collaborations and grants.
Shares of Moderna and clinical-trial data
On May 19, the company shared some of the details regarding the vaccine trial. According to Moderna eight out of 45 participants in the vaccine study developed neutralizing antibodies. However, the company didn’t information how the immune systems of other participants responded to the experimental vaccine.
Interestingly, the Food and Drug Administration (FDA) gave permission to proceed with the second phase of the clinical trial. Moreover, the full data from the trial will be published by the National Institute for Allergy and Infectious Diseases (NIAID). Also, this institute is the sponsor of this study.
However, the data released by Moderna was not enough to convince medical experts as well as analysts. For example, analysts view data provided by Moderna as positive but the data is limited.
Moreover, questions about access to the complete Phase 1 clinical trial data as well as the company’s plan to sell $1.3 billion in stock affected the shares of Moderna.
People should keep in mind that it would take time to create an effective vaccine. Also, companies such as Moderna should cooperate with various organizations and individuals to make this process more transparent.