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



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

Modern made the announcement in its profit on Wednesday morning. The company reported a loss that was lower than expected, but revenue exceeded forecasts.

Shares of modern (mRNA) fell by about 4% in the news, but the stock rose nearly 300% this year in hopes of developing a successful coronavirus vaccine. The company has also come under scrutiny by some investors as several insiders have sold shares as it has grown.
People are also closely monitoring what drug companies plan to impose on biotechnology treatment Gilead Sciences (GUILD) in June revealed that his drug Remdesivir would cost $ 520 per vial, or $ 3,1
20 for a five-day course of six vials, for people covered by private insurance plans.

But Modern CEO Stefan Bansel promised during a conference call with analysts that his vaccine would be available.

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

Modern is just one of several companies vying to offer a vaccine. Shares of other minor biotechnology, Novavax (NVAX), jumped nearly 15% on Wednesday after announcing its promising results from clinical trials. Novavax shares are over 4,000% this year.
Novavax also received funding for Operation Warp Speed, as did the giant drug companies Johnson and Johnson (JNJ),, AstraZeneca (AZN),, GlaxoSmithKline (GSK) and a joint trial of the giant Big Pharma Pfizer (PFE) and Germany BioNTech (BNTX),,

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