Moderna Inc. (MRNA) shares seem to be taking an upward turn on the NASDAQ stock market index, following the company’s decision to commit to a timeline for the completion of its coronavirus vaccine. The biotechnology company also submitted an application to the United States Government for emergency use authorization.
This decision came after the completion of the Cambridge, Massachusetts-based company’s Phase 3 COVE study. Should the interim results be positive, the vaccine candidate mRNA-1273 could receive emergency use authorization in December, thus providing Moderna with the opportunity to win the race for releasing a COVID-19 vaccine.
While seemingly on the right track to finding a vaccine, Moderna CEO Stéphane Bancel explained in an interview with the Wall Street Journal that it is necessary to exercise caution before releasing the drug: “Unlike sometimes when you make a recipe at home, if you miss one ingredient, you might decide to still go ahead and make your meal, but in our case we cannot do that. We need all the ingredients to be there on time to be able to make a lot of vaccine. If one ingredient is missing, we cannot make a vaccine.”
