Moderna (MRNA) announced on Tuesday that European regulators have approved the biotechnology company’s right to apply early for approval of its COVID-19 vaccine. As a result, the company’s stock rose in the morning stock market trades 1.3%, which brought each stock to a price of 79.29
MRNA Chief Executive Stéphane Bancel made the following statement in a news release on Wednesday: “Moderna is scaling up global manufacturing to be able to deliver approximately 500 million doses per year and possibly up to 1 billion doses per year, beginning in 2021.”
He also explained that, as of Friday, the company enrolled 28,618 out of 30,000 participants for its Phase 3 trial.
Despite such positive recent developments, Moderna still faces stiff competition in the race to find a COVID-19 vaccine from the likes of Vaxart (VXRT) and the team of BioNTech (BNTX) and Pfizer (PFE).
Vaxart has successfully performed a key test in hamsters of its tablet-form vaccine, thus paving the way for Phase 1 clinical trials on humans. In fact, some human trial participants have already been dosed, the company revealed.
