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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."

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