Stockmarket

Moderna Rises As Vaccine Makers Assess New Variant



© Reuters

By Sam Boughedda

Investing.com — Moderna Inc (NASDAQ:) shares have rallied Monday after the emergence of the new Covid-19 variant, Omicron, which has vaccine makers examining whether a new booster shot will need to be produced. 

Moderna shares are trading around 11.3% above Friday’s close.

Moderna’s CEO, Stephane Bancel, told CNBC that it will take months to develop a booster shot explicitly designed for the new variant, but a higher dose of its current shot could be ready much sooner.

However, he also acknowledged that the variant is likely to be in most countries already. On Sunday, Moderna’s Chief Medical Officer Paul Burton said he suspects the new variant may elude current vaccines, but they will know more in the next couple of weeks. 

“We should know about the ability of the current vaccine to provide protection in the next couple of weeks,” said Burton, speaking on the BBC’s Andrew Marr Show. “If we have to make a brand new vaccine, I think that’s going to be early 2022,” he added.

Initial comments from a South African doctor who was one of the first to raise the alarm about the strain said the symptoms were so far very mild and could be treated at home. If that is the same for most cases — which may be true if it is already prevalent globally — a specifically designed booster shot may not be warranted. 

In a research note over the weekend, Piper Sandler analyst Edward Tethoff reiterated his Overweight rating at $348 price target on Moderna, saying the company is in a better position to develop another vaccine and has the capacity to manufacture several hundred million doses every month.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.