Moderna stock pops after agreement to sell at least 100 million COVID-19 vaccine doses to U.S. government

Moderna Inc. MRNA, -4.22% declared Tue. noon that it’s approached an settlement to sell 100 mln doses of its investigational vaccine for COVID-19 to the U.S. govt for over $1.Five billion. “Breaking: Moderna announces a supply settlement with the U.S. govt to secure an initial 100 mln doses of mRNA-1273 for as many as $1.525 billion with option granted to U.S. govt to buy as many as an extra 400 mln doses,” the firm disclosed in a tweet. Moderna shares leaped over 8% in after-hours trading immediately following the announcement. Previously studies of Moderna’s vaccine candidate produced antibodies for COVID-19, the firm formerly declared, & it’s presently operating a Phase 3 study of the vaccine. “The U.S. govt has declared that consistent with its dedication to free accessibility to COVID-19 vaccines, Americans going to receive mRNA-1273 in no cost for the vaccine itself,” Moderna added further in a subsequent news release. “As is customary with government-purchased vaccines, health-care professionals can charge for the cost of administering the vaccine.” Moderna shares have erupted higher amidst the frenzy to grow a COVID-19 vaccine throughout a world-wide epidemic, with the distribute cost leaping over 250% till now this yr. as the Sandamp;P 500 index SPX, -0.79% has gained 5.2%.

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