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Modern jumped 10% after Trump said the US government had reached a deal for 100 million doses of its coronavirus vaccine



Participant in the trial of a modern coronavirus vaccineAP Photo / Hans Pennink

  • President Donald Trump announced on Tuesday that the US government has reached an agreement with Modern for 100 million doses of its candidate for the coronavirus vaccine.
  • Shares of Moderna reached 10% on Wednesday.
  • The company separately announced that the deal was worth $ 1.53 billion and allowed the government to purchase up to 400 million additional doses from its coronavirus vaccine candidate.
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Moderna shares rose 1

0 percent on Wednesday after President Donald Trump said Tuesday that the U.S. government had reached an agreement to buy 100 million doses of the company’s coronavirus vaccine candidate.

Moderna announced separately Tuesday that the deal is worth $ 1.53 billion and allows the government to purchase up to 400 million additional doses from its coronavirus vaccine candidate, mRNA-1273. The COVID-19 vaccine began in late-stage human trials in July.

Earlier, the US government awarded Modern 955 million dollars for the development of vaccines – the new round of purchases brings its total investment to 2.48 billion dollars, the company said in a statement.

Read more: Moderna’s CEO shared a detailed timeline for when we’ll find out if her coronavirus vaccine works and warns you may not try it until spring

“We are investing in the development and production of the first six vaccine candidates to ensure fast delivery,” Trump told a White House news conference on Tuesday. “The military is ready to go. They are ready to deliver a vaccine to the Americans as soon as one is fully FDA approved, and we are getting very close to that approval.”

The US government has also entered into agreements with other pharmaceutical companies for potential vaccines against COVID-19, including Pfizer, Johnson and Johnson, Sanofi and GlaxoSmithKline.

The deals are part of the Trump administration’s Operation Warp Speed ​​program, which is dedicated to accelerating the development, production and distribution of COVID-19 vaccines.

Moderna had accumulated 253% for the year by the end of Tuesday.

Read more: The CEO of a $ 815 million ETF vendor explains how to build the perfect portfolio for today’s market using just 3 low-cost funds

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