Moderna's share price jumps on the stock market following convincing initial results from the initial human trial phase of a vaccine against Covid-19. Let's discover together the details of this news and its effects on the stock market.
It is not without reason that there was an outbreak of 35% of Moderna's share price yesterday at the end of the session. Indeed, this American biotech has been at the forefront of the Covid-19 vaccine race for several months after a memorable IPO in 2018.
The group announces that it has reached a new milestone in its research with the publication today of the first results and positive interim data from the initial phase of clinical trials of its vaccine project, conducted on a small number of volunteers. A total of 45 people participated in the study with three different doses of vaccine administered in one or two doses.
An immune response was indeed detected in 8 people who participated and of the same magnitude as that observed in patients cured of Covid. A phase three of these clinical trials, with a larger number of volunteers, will therefore start in early July following the phase II trial that will begin shortly. Other tests, carried out on mice, also showed that the vaccine developed by Moderna prevented the virus from replicating in the lungs, according to the company's announcement. The French head of the start-up, Stéphane Bancel, announced this morning: "Moderna's team remains focused on launching the pivotal phase 3 trial in July as quickly and safely as possible".
Following the publication of these very positive results, the stock of the company Moderna jumped on Wall Street this morning. Let us recall that on January 1st, the price of this share was 20 dollars, it is posted today at 90 dollars, that is to say an increase of more than 35% compared to Friday and a performance of 370% since the beginning of this year. Thus and with a confirmation of this trend, we should see an increase in the valuation of this biotechnology company to more than 32 billion dollars.
But this announcement does not only impact the Moderna share but also other European financial markets which, with the hope of seeing a vaccine coming soon, are seeing their gains increase. Thus and at the end of Monday morning, the CAC 40 continued its rise with a gain of 3.5%. The DAX 30 was up 4% and the FTSE was up 3%. An acceleration of upward trends was indeed observed after Moderna's announcement at 2pm yesterday. US stock market indices are of course also benefiting from this renewed confidence.