Moderna rockets as first patient dosed with its coronavirus vaccine candidate

17 March 2020

US biotech Moderna (Nasdaq: MRNA) on Monday announced that the first participant has been dosed in the Phase I study of its mRNA vaccine (mRNA-1273) against the novel coronavirus (SARS-CoV-2).

Market reaction was dramatic, with the stock closing up 24.4% at $26.40 yesterday, and leaping a further 21.6% to $32.20 by late morning trading today.

This Phase I study is being conducted by the US National Institutes of Health (NIH) under its own Investigational New Drug (IND) application, with the race now on to develop an immunization against COVID-19.

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