Biotech company Moderna (MRNA) has enjoyed a significant revenue increase during the third quarter, thanks to its research and development with regards to a COVID-19 vaccine. This has triggered a 3.8% rise in share prices to $64.87 on the S&P Index.
The Cambridge, Massachusetts-based firm is currently leading in the race to produce a viable coronavirus vaccine. After chasing down early approval for its vaccine, Moderna has $1.1 billion in deposits from a variety of governments, all of whom are eagerly awaiting the arrival of the potential solution to the COVID-19 pandemic.
In an official press release, Moderna CEO Stéphane Bancel made the following statement: “We are actively preparing for the launch of mRNA-1273 and we have signed a number of supply agreements with governments around the world.”
Currently, the biotech company is conducting its late-stage clinical trial, for which it enrolled 30,000 participants. As of last week, Moderna has administered its two-dose vaccine to 25,650 candidates.
According to CEO Bancel, the data and safety monitoring board is scheduled to conduct an interim analysis in November to determine if the trial was indeed successful.
