Moderna (NASDAQ:MRNA), Inc. MRNA announced that it has amended its current agreement with the United Kingdom government to supply an additional two million doses of its novel mRNA-based coronavirus vaccine candidate, mRNA-1273, beginning in March 2021. Following this latest development, the U.K. government has now secured seven million doses of the vaccine.
Notably, in October 2020, the Medicines and Healthcare products Regulatory Agency in the United Kingdom, started the rolling review process of mRNA-1273.
The company has been actively engaged in securing supply deals for the vaccine candidate and has signed agreements with several countries including the United States, Japan, Canada and the European Commission. Moderna remains focused on making its vaccine available in multiple countries.
Shares of Moderna have skyrocketed 549.4% so far this year compared with the industry’s increase of 2.1%.
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Notably, in November 2020, the company signed a supply agreement with the European Commission for 80 million doses of mRNA-1273. Upon potential approval, Moderna expects to start delivery of the vaccine as early as the first quarter of 2021.
Please note that mRNA-1273 achieved an encouraging efficacy rate of 94.5% in the first interim analysis of the phase III COVE study evaluating it in a diverse patient population. Per FDA’s guidelines, a vaccine will be considered effective if it is at least 50% effective.
Meanwhile, Pfizer PFE and its Germany-based partner BioNTech BNTX have already submitted their request for an Emergency Use Authorization for their mRNA-based coronavirus vaccine candidate, BNT162b2, to the FDA.
There is an alarming rise in the number of COVID-19 cases globally and stricter restrictions are being imposed in several countries including the United States. The need of a COVID-19 vaccine is rising with each passing day.
Apart from Moderna and Pfizer, AstraZeneca (NASDAQ:AZN) AZN, in partnership with Oxford University, is evaluating an adenovirus-based coronavirus vaccine candidate, AZD1222, in late-stage studies. J&J, too, is evaluating its coronavirus vaccine candidate, JNJ-78436735, in a phase III study.
Zacks Rank
Moderna currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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