Modern stock rises 17% on coronavirus vaccine trial news

Published: July 15, 2020 at 6:14 am ET

Modern Headquarters in Cambridge, Mass.
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Modern Inc. stock skyrocketed in premarket trade on Wednesday, with the biotech company saying its coronavirus vaccine candidate caused a “strong” immune system response in a large group of people and the study will move to a decisive clinical trial in July .

Results published in The New England Journal of Medicine showed that the two-dose vaccination schedule induced a desired immune response in the evaluation of all 45 people, a large group in preliminary data.


Was released in May, and was generally safe and well tolerated, the company said.

Morden’s shares already rallied after hours of Tuesday. The company is a front-runner among several developing experimental COVID-19 vaccines.

The results, “positive interim data reaffirmed” released in May, said Modern. The trial vaccine “induces rapid and strong immune responses against SARS-CoV-2,” the coronovirus that causes COVID-19.

No serious adverse effects were reported, but some occurred, such as headaches and fatigue, “which were usually severely transient and mild to moderate,” the company said.

Modern is evaluating whether the participants’ immune response is permanent, with the participants followed for a year.

The Phase 3 study will begin this month “to demonstrate our vaccine’s ability to reduce the risk of COVID-19 disease,” Modern said. It said it remained on track to be able to deliver “approximately 500 million doses per year and possibly up to 1 billion doses” starting in 2021.

Modern said last week that it had signed another manufacturing deal for the vaccine, this time with Spain’s Laboratoris Pharmacosios Rovi. As part of the race for the coronovirus vaccine, drug manufacturers have extended the production of their vaccine candidates to the time it would take to deliver a working vaccine.

New details about Modern’s vaccine candidate Dr. Dr., director of the National Institute of Allergy and Infectious Diseases. As Anthony Fauci posed, he said he was “optimistic” about the coronovirus vaccine relatively soon.

“We’re in a very good place when it comes to a vaccine,” Fauci said at an event late Tuesday. “If we expect things to work this way, a safe and effective vaccine will be ready for delivery by early 2020 by 2020,” he said. “I am cautiously optimistic about this.”

FICCI said that assuming the timetable was correct, companies developing the vaccine promised that many supplements would be available right now.

Modern shares have nearly quadrupled this year, with losses of about 1% and 7% for the S&P 500 index


And Dow Jones Industrial Average


In the same period.