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Stock Alert: Moderna Jumps 5% On $1.5 Bln Coronavirus Vaccine Deal With U.S. Govt

Shares of Moderna, Inc. (MRNA) are currently gaining over 5% on Wednesday morning. Yesterday, the company signed a $1.5 billion deal with the U.S. government for the supply of its experimental coronavirus vaccine.

MRNA is currently trading at $72.46, up $3.49 or 5.06%, on the Nasdaq.

Moderna reached an agreement with the U.S. to initially supply 100 million doses of its experimental vaccine for COVID-19, mRNA-1273. The U.S. government has awarded up to $1.525 billion for the vaccine.

The U.S. will also have the option to purchase up to an additional 400 million doses of mRNA-1273 from Moderna.

The U.S. government has already invested $955 million in the company's vaccine development, bringing its total investment up to $2.48 billion, Moderna said in a statement.

Moderna's mRNA-1273 is one of the few drugs that are in the final stage of testing and is on track to be completed in September.

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