MRNA Stock News: Moderna set to rise on Trump's vaccine push, rivals' issues
- NASDAQ: MRNA has defied markets and advanced by nearly 3% on Wednesday.
- Moderna Inc. is set to extend gains as President Trump insists a vaccine will be ready shortly.
- AstraZeneca's temporary vaccine halt and Pfizer's enlargement of its trial put Moderna in a pole position.
Why is NASDAQ: MRNA moving higher? The main focus for investors has been the firm's advanced efforts to develop a COVID-19 vaccine. Moderna is busy running a final Phase 3 trial involving tens of thousands of people.
President Donald Trump has been pushing strongly for immunization to arrive in the US before the elections on November 3. He would like to paint a victorious picture, countering his mishandling of the virus so far 0 especially as America's death toll is nearing 200,000. Contrary to statements by Robert Redfield, head of the Center for Diseae Control, and Anthony Fauci, America's leading epidemiologist, he stated a vaccine is coming soon.
The president's words imply any pharmaceutical firm that announces positive results would receive emergency approval – and perhaps government funds to ramp up manufacturing.
Moderna is not alone in the race to register a full solution for the coronavirus pandemic. Pharma behemoth Pfizer is also conducting a Phase 3 trial in collaboration with Germany's BioNtech. That project asked to enlarge the number of participants from 30,000 to 44,000 without any clear explanations. Even if this move makes sense, it will likely slow Pfizer's attempt to reach a vaccine.
Another leading project comes from Britain's AstraZeneca. The project that involves the University of Oxford suffered a one-week pause after a participant fell ill. The trial later resumed, but the delay 0 and potentially others down the road – may put it behind.
All in all, Moderna is moving forward, and the mix of issues at the competition and a push from Uncle Sam put it in a pole position to win the race.
MRNA Stock Price
When a stock rises when the market falls – it is showing strength. That is what Moderna is experiencing, and for good reasons. The Massachusets-based pharma firm's stock rose by nearly $2 or 2.93% on Wednesday, closing at $48.84. It is changing hands at just above $70 in Thursday's pre-market trading.
Previously about the firm:
MRNA Stock Price: Moderna hits record high amid coronavirus vaccine progress, new test underway
Premium
You have reached your limit of 3 free articles for this month.
Start your subscription and get access to all our original articles.
Author
Yohay Elam
FXStreet
Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.
