The stock market has been in a rough spot for the past couple of months. Political instability along with the pandemic has increased the risk factors, in which several stocks have experienced a downward trend of stocks. However, one company doing arguably well is Moderna stock. Let’s look at what the company’s current stock market standing is.
Currently, around 10 programs are active in the race of manufacturing coronavirus vaccines. However, the top fighters are clearly Pfizer and Moderna. Both the companies are scheduled to release their trial readouts soon. What’s interesting about it is that both Moderna and Pfizer are not manufacturing traditional coronavirus vaccines.
What Is Moderna Stock’s Future?
Last March, Moderna became famous after testing its coronavirus vaccines on humans. There hasn’t been much controversy around the company since. Their research looked at forty-five volunteers between the age of 18 to 55. All the participants were given the coronavirus vaccine, and they found that, as a result, their bodies produced antibodies capable of fighting the COVID-19 virus. According to researchers, these neutralizing antibodies are central to finding a cure.
With such positive reviews, it’s no surprise that Moderna stock is doing pretty well in the stock market. Moreover, the researchers found that older volunteers who were given their testing vaccines also produced neutralizing antibodies. They also reported that the vaccine enabled the production of antibodies more than what recovered COVID-19 patients produced.
By July, Moderna started its third phase. Around October, the company reported that it enrolled around 30,000 participants. At the time of reporting, over 25,650 volunteers had already received a second round of coronavirus vaccine. As of now, the US FDA is awaiting the data presentation by Moderna. With the presentation date coming closer, the Stock market investors are already getting excited to see what the results would mean for them.
A positive review by the US FDA would mean a further boost to Moderna stock.
Traditionally, vaccines infuse a human body with weaker forms of viruses. However, the coronavirus vaccine created by Moderna aims at encouraging the human body to produce its own coronavirus fighting or neutralizing antibodies.
Last August, the federal government gave $1.5 billion to Moderna so that the company could increase the speed and efforts into creating the coronavirus vaccine. Before that, the company has already received a grant of $483 million from the government. As of now, Moderna hopes to produce around one billion doses in a year. Pfizer, on the other hand, hopes to manufacture over 1.3 billion.
With the federal government’s support and a general consensus of stability, Moderna stock is something that every stock market investor is eyeing right now.