Modern Inc. (mRNA) – Get Report Pre-market trading gained momentum on Wednesday. The drugmaker reported equally positive data from initial testing of his experimental coronavirus vaccine.
Modern said that Phase I trial of mRNA-1273, its proposed coronavirus vaccine candidate, antibody responses in all 45 patient participants, with no serious side effects, over a period of four weeks after two injections. The results open the door to a large study of some 30,000 patients to be held on July 27, and follow positive results in a vaccine study reported earlier this week by drugmaker Pfizer Inc. (PFE) – Get Report.
Director of the National Institute of Allergy and Infectious Diseases, Drs. Anthony Fauci said the data looked “quite good indeed”, and highlighted the fact that patients only had mild side effects from the injection, such as headaches, fever and fatigue.
CEO Stephen Banksel stated, “These positive Phase 1 data are an important step in the clinical development of mRNA-1273, encouraging and representing a vaccine candidate against our COVID-19, and we thank the NIH.” ” “The modern team is focusing on starting our Phase 3 study this month and filing the BLA if successful.”
He added, “We are committed to quickly and safely pursue the clinical development of mRNA-1273 while investing to increase manufacturing so that we can help address this global health emergency”.
Modern shares were marked 14% higher in pre-market trading, indicating an early bell price of $ 85.50 per share, a move that would have given the stock a year-over-year gain of an astonishing 350. Will increase to%.
Earlier this week, Pfizer received ‘fast track’ approval from the US Food and Drug Administration for two of its coronovirus vaccine candidates. After preliminary data from Phase I and Phase 2 studies earlier this month, the drugmaker is developing with Germany’s biotech BNTX.
Pfizer previously said of the preliminary results of its coronavirus vaccine study that it triggered a ‘strong immune response’ in human trials, the most promising of its four vaccine candidates on 30,000 participants in UN-scheduled trials Made an unveiling plan. States and Europe.
The study reported no serious adverse effects, Pfizer said, which included two BNT1162b1 dose trials on 24 healthy patient volunteers, but those who showed higher levels of COVID-19 antibodies than those infected with the disease.