Moderna hit by criticism over lack of data on coronavirus vaccine candidate results | ||
Wednesday, 20 May 2020 ()
Moderna Inc (NASDAQ:MRNA) was lower in premarket New York trading on Wednesday as the stock still suffers criticism over the most recent results for its coronavirus (COVID-19) vaccine candidate. The US biotech firm published interim clinical data earlier this week saying that it reinforced its belief that its mRNA-based vaccine could prevent infections without serious side effects. READ: Moderna announces positive interim data on Covid-19 vaccine candidate However, according to a report published on Tuesday night by Boston Globe Media’s STAT news, some scientists believe that, based on the current available data, there is no way to prove how effective the candidate is. STAT also pointed out that the usually vocal National Institute for Allergy and Infectious Diseases, a partner of Moderna in the project, declined to comment on the clinical data. “It seems traders should treat every trial result with caution given the volatility around both Gilead and Moderna announcements over recent weeks,” said Josh Mahony, an analyst at IG. “Every specialist seems to indicate that a vaccine will take some time to develop, yet markets treat each trial announcement like we are on the cusp of a huge breakthrough that could see everything swiftly return to normal.” Shares in Moderna lost 4% to US$68.71 in premarket trading. |
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Credit: WCVB - Published
Moderna announces 'positive' early results in coronavirus vaccine trial 01:06The vaccine candidate "has the potential to prevent COVID-19 disease," said Dr. Tal Zaks. |