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Moderna (MRNA) Inks Europe Supply Deal for COVID-19 Vaccine
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Moderna, Inc. (MRNA - Free Report) ) announced that it has signed a supply agreement with the European Commission for 80 million doses of its coronavirus vaccine candidate, mRNA-1273. The company has been in advanced discussions for this deal with the European Commission since August. Per the agreement, the European Commission has an option to purchase up to an additional 80 million doses of mRNA-1273.
Moderna expects to start delivery of the vaccine, if it is approved, as early as the first quarter of 2021. Please note that the Committee for Medicinal Products for Human Use (“CHMP”) of the European Medicines Agency (“EMA”) started rolling review of its marketing authorization application for mRNA-1273 earlier this month.
The company has been actively engaged in securing supply deals for the candidate and has signed agreements with several countries including the United States, Japan, Canada, Japan and the United Kingdom. The company has also enough manufacturing capabilities to support supply of mRNA-1273 to these countries and more.
Please note that the company’s novel mRNA-based vaccine candidate 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 a Barron’s article, the company is expected to announce data from final analysis of the study by November end ,followed by a request for Emergency Use Authorization (“EUA”) to the FDA in December. Please note that Pfizer (PFE - Free Report) and its partner BioNTech (BNTX - Free Report) have already submitted their request for an EUA for their mRNA-based vaccine candidate in the United States.
The same Barron’s article also quoted an analysis of a Goldman Sachs analyst. It stated that Moderna may report sales of $13 billion in 2021. The analyst also raised the target price for Moderna from $107 to $133. Moreover, the article mentioned that the chief science advisor to the government’s Operation Warp Speed pandemic program has stated that the FDA could be ready to authorize two vaccines by mid-December, raising hopes for EUA approval for Moderna’s candidate.
Shares of Moderna closed 10.8% higher after hitting an all-time high of $109.29 on Nov 25. Shares were also up 3.8% in after-hours trading. The company’s shares have skyrocketed 458.1% so far this year against the industry’s decrease of 0.6%. The shares have the potential to rise further in the rest of the year.
Apart from Moderna and Pfizer, AstraZeneca (AZN - Free Report) in partnership with Oxford University is evaluating their adenovirus-based coronavirus vaccine candidate, AZD1222 in late-stage studies. AstraZeneca’s candidate has achieved an average efficacy rate of 70% in first interim analysis. J&J is also developing a single dose coronavirus vaccine candidate, JNJ-78436735, in a phase III study.
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.4% per year.
These 7 were selected because of their superior potential for immediate breakout.
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Moderna (MRNA) Inks Europe Supply Deal for COVID-19 Vaccine
Moderna, Inc. (MRNA - Free Report) ) announced that it has signed a supply agreement with the European Commission for 80 million doses of its coronavirus vaccine candidate, mRNA-1273. The company has been in advanced discussions for this deal with the European Commission since August. Per the agreement, the European Commission has an option to purchase up to an additional 80 million doses of mRNA-1273.
Moderna expects to start delivery of the vaccine, if it is approved, as early as the first quarter of 2021. Please note that the Committee for Medicinal Products for Human Use (“CHMP”) of the European Medicines Agency (“EMA”) started rolling review of its marketing authorization application for mRNA-1273 earlier this month.
The company has been actively engaged in securing supply deals for the candidate and has signed agreements with several countries including the United States, Japan, Canada, Japan and the United Kingdom. The company has also enough manufacturing capabilities to support supply of mRNA-1273 to these countries and more.
Please note that the company’s novel mRNA-based vaccine candidate 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 a Barron’s article, the company is expected to announce data from final analysis of the study by November end ,followed by a request for Emergency Use Authorization (“EUA”) to the FDA in December. Please note that Pfizer (PFE - Free Report) and its partner BioNTech (BNTX - Free Report) have already submitted their request for an EUA for their mRNA-based vaccine candidate in the United States.
The same Barron’s article also quoted an analysis of a Goldman Sachs analyst. It stated that Moderna may report sales of $13 billion in 2021. The analyst also raised the target price for Moderna from $107 to $133. Moreover, the article mentioned that the chief science advisor to the government’s Operation Warp Speed pandemic program has stated that the FDA could be ready to authorize two vaccines by mid-December, raising hopes for EUA approval for Moderna’s candidate.
Shares of Moderna closed 10.8% higher after hitting an all-time high of $109.29 on Nov 25. Shares were also up 3.8% in after-hours trading. The company’s shares have skyrocketed 458.1% so far this year against the industry’s decrease of 0.6%. The shares have the potential to rise further in the rest of the year.
Apart from Moderna and Pfizer, AstraZeneca (AZN - Free Report) in partnership with Oxford University is evaluating their adenovirus-based coronavirus vaccine candidate, AZD1222 in late-stage studies. AstraZeneca’s candidate has achieved an average efficacy rate of 70% in first interim analysis. J&J is also developing a single dose coronavirus vaccine candidate, JNJ-78436735, in a phase III study.
Moderna, Inc. Price
Moderna, Inc. price | Moderna, Inc. Quote
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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