Home / US / Modern has $ 400 million in deposits for Covid-19 vaccine

Modern has $ 400 million in deposits for Covid-19 vaccine

The biotechnology, which has received funding from the US Operation Warp Speed ​​program, also said it had about 400 million customer deposits for a potential delivery of its mRNA-1273 vaccine.

Modern made the announcement in its payout Wednesday morning. The company posted a loss that was smaller than expected but revenue that topped the forecasts.

Shares of Modern (mRNA) fell about 4% in the news, but the stock has increased by almost 300% this year in the hope that it will be able to develop a successful coronavirus vaccine. The company has also been scrutinized by some investors as several insiders have sold stocks as it has risen.
People have also followed closely to see what pharmaceutical companies plan to charge for treatments after biotechnology Gilead Sciences (GILD) revealed in June that its remdesivir drug would cost $ 520 per vial, or $ 3,1
20 for a five-day six-vial course, for individuals covered by private heath insurance plans.

But Modern CEO Stéphane Bancel promised during a conference call with analysts that the vaccine would be affordable.

“We are working with governments around the world and others to ensure that the vaccine is available regardless of ability to pay. And we will be responsible for the price … during the pandemic,” Bancel said, adding that smaller amounts of the vaccine have so far cost between $ 32 and $ 37 per dose and that Moderna would charge lower prices for higher volumes of mRNA-1273.

Moderna is just one of several companies vying for a vaccine. Shares of another smaller biotechnology, Novavax (NVAX), increased nearly 15% on Wednesday after announcing promising clinical trial results by itself. Novavax shares have increased by more than 4,000% this year.
Novavax has also received Operation Warp Speed ​​funding, as well as giant pharmaceutical companies Johnson & Johnson (JNJ), AstraZeneca (AZN), GlaxoSmithKline (GSK) and a joint trial of the Big Pharma giant Pfizer (PFE) and Germany Bion Tech (BNTX).

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