Plus   Neg

Moderna Reportedly Delays Phase 3 Trial Of COVID-19 Vaccine

Shares of Moderna Inc. (MRNA) slipped over 5% on Thursday after a report claimed that the biotechnology company's late-stage trial for a coronavirus vaccine will be delayed.

Moderna is developing mRNA-1273 in collaboration with the National Institute of Allergy and Infectious Diseases (NIAID).

The mRNA-1273 vaccine contains an mRNA or the genetic formula that encodes for a prefusion stabilized form of the SARS-CoV-2 spike protein. Upon vaccination, the body cells will start producing the spike protein, triggering the production of antigens to act against the virus, thus eliciting immunity.

Moderna has secured $483 million in funding from the US government to develop mRNA-1273.

Moderna was expected to commence phase III trial with 30,000 participants for its vaccine candidate in July, with results from phase II pending.

According to health-care magazine STAT News, Moderna is making changes to the trial plan and has pushed back the expected start date.

However, Moderna CEO Stephane Bancel told CNBC, "we have always said July. And I confirm July."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Amazon.com, Inc. can be held liable for damages caused by defective goods sold on its Marketplace including third parties, according to a ruling by a California appeals court. The California Fourth District Court of Appeals was pronouncing the ruling in a case where a defective replacement laptop battery caught fire and inflicted a woman with third-degree burns. Facebook has launched "Voting Information Center" on Facebook and Instagram platforms, with a view to boosting the number of Americans vote in the upcoming U.S. presidential election in November. The social media giant's latest initiative is expected to help 4 million voters register this year, and help them navigate a 'confusing election process'. Epic Games Inc., the developer of popular game Fortnite, has filed lawsuits against both Apple Inc. and Google after they removed the game from their app stores. The development reflects disputes related to app store fee the tech giants take from each purchase. Epic Games, which has been against the 30 percent revenue cut the two tech giants take from paid apps, added a direct payment option.
Follow RTT