Moderna (MRNA) stock price is increasing after the news that the first coronavirus vaccine is ready to be tested on humans. Yesterday, the stock gained 20% and is still growing today.
Moderna Inc (NASDAQ: MRNA) stock jumped by 20% on Monday and keeps growing today. This has happened as a result of its recent breakthrough in developing a vaccine to fight with the coronavirus. The biotech company indicated in a press release that its RNA-based vaccine is ready for its first batch of human trials. Moderna was working with the U.S. National Institute of Allergy and Infectious Diseases (NIAID). And it managed to develop a long-awaited coronavirus vaccine. The first batch will be reportedly shipped to NIAID’s Maryland USA center.
At the moment of writing, the Moderna stock price is $21.66 which indicates an over 16% growth.
Moderna (MRNA) Stock Makes Gains Based on the New Coronavirus Vaccine
Moderna is expecting the first batch of human trials for coronavirus vaccine to begin as early as April. The gene sequencing of the basic identifiers of the COVID-19 virus reportedly occurred in record time. This has raised hopes of a publicly available vaccine before summer. It also gives a ray of hope to the Nations that have suffered the most from the effects of the situation.
The project has been said to be reportedly funded by the Coalition for Epidemic Innovations (CEPI). The vaccines will be used in a study at the National Institutes of Health (NIH). The study is expected to occur in phases.
The vaccine which is referred to as mRNA-1273 is also a first. RNA vaccines have never been used on humans. This could present a proof-of-concept that RNA vaccines are just as effective as DNA-based ones. This could also change the game for viral vaccines as Moderna is leading research into RNA-based vaccines. Until the general success of the Vaccine is established, the concept of cures based on RNA vaccine remains murky.
Other drugs have been effective in treating COVID-19 though. Gilead Sciences Remdesivir which is effective against Ebola is already showing promise in slowing down the symptoms of COVID-19 in patients. This, of course, is a step in the right direction. It does not, however, deal with the root cause of the problem which is the infection.
This is where mRNA-1273 holds the most promise. However, it remains to be seen if the trials will be as effective as the initial results have been so far.
COVID-19 is a Member of the Coronavirus Family
COVID-19 belongs to the family of viruses to which the Severe Acute Respiratory (SARS) belongs. There had also been an earlier outbreak of SARS in China. MERS also belongs to this family of viruses.
The attempt by Moderna to sequence the COVID-19 virus sets a new record for gene sequencing. In 42 days the signatures for the COVID-19 had already been identified while a probable vaccine has also been identified. This goes to show the effectiveness of research and development in solving health problems that have a global nature.
Though the effects of RNA coronavirus vaccine on the human body remain unknown, it could just be that Moderna and companies like it are on the verge of the next level of advancements in medicine. Time, it sees will be the judge of this.