Moderna (NASDAQ: MRNA) 105% after-hours on news it will receive approximately $483 M from the U.S. government to accelerate advancement of a COVID-19 vaccine.
The company says the Biomedical Advanced Research Study and Advancement Authority within the U.S. Department of Health and Human Providers will fund advancement of the mRNA-1273 vaccine prospect to licensure with the Food and Drug Administration.
Moderna plans to begin a Phase 2 research study in Q2 and begin Phase 3 screening as early as fall 2020.
” By investing now in our production procedure scale-up to make it possible for large scale production for pandemic reaction, our company believe that we would be able to provide millions of dosages monthly in 2020 and with more financial investments, 10s of millions each month in 2021, if the vaccine prospect succeeds in the clinic,” says CEO Stéphane Bancel.
