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Coronavirus Vaccine Efforts to Aid Moderna (MRNA) Q1 Earnings?
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Moderna, Inc. (MRNA - Free Report) has been actively engaged in development of a coronavirus vaccine since January. The company is developing an mRNA-based vaccine, mRNA-1273, for COVID-19, which uses a genetic form of the virus' genome. The vaccine is intended to target the spike (S) protein of the coronavirus.
Moderna shares have surged 158.2% so far this year against the industry’s decrease of 0.8%.
In March, the company announced that the first patient in a phase I study was dosed with mRNA-1273. The study is being conducted by the National Institutes of Health ("NIH"). The company succeeded in starting a clinical study for COVID-19 vaccine in just over nine weeks from sequence selection for the SARS-CoV-2 vaccine.
The phase I study is evaluating three doses of mRNA-1273 — 25, 100 and 250 micrograms — which are being administered on a two-dose vaccination schedule, given 28 days apart for safety and reactogenicity.
The company has been actively preparing for a potential phase II study to build on data from the ongoing phase I study being conducted by the NIH. The company filed an investigational new drug application (“IND”) for the same with the FDA in late April.
Meanwhile, the company has been developing other mRNA-based vaccines targeting different indications in clinical stage studies.
The ongoing clinical activities as well as preparation of the IND for phase II study on mRNA-1273 are likely to have driven operating expenses higher in the first quarter.
We note that Pfizer (PFE - Free Report) in collaboration with BioNTech (BNTX - Free Report) and Sanofi (SNY - Free Report) in collaboration with TranslateBio have also been developing mRNA-based vaccines for COVID-19 as well.
Meanwhile, Moderna’s coronavirus development progress has attracted partnerships from other government as well global organizations namely, Coalition for Epidemic Preparedness Innovations (“CEPI”), the U.S. National Institute of Allergy and Infectious Diseases (“NIAID”) and the Biomedical Advanced Research and Development Authority ("BARDA"). These partnerships have provided grants to support the different stage of development of mRNA-1273.
The company announced in February-end that it had up to $183 million in additional funding available from grants. The Zacks Consensus Estimate for grant revenues is pegged at $2.5 million for the first quarter.
Moderna has few strategic alliances with pharma companies for the development of some of its pipeline candidates. These alliances generate collaboration revenues for the company. The Zacks Consensus Estimate for collaboration revenues is pegged at $15.7 million.
On the first-quarter earnings call, investors will be keen to know any update on the timeline for initiation of the phase II study on the coronavirus vaccine. (Read more: Moderna to Report Q1 Earnings: What's in the Cards?)
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Coronavirus Vaccine Efforts to Aid Moderna (MRNA) Q1 Earnings?
Moderna, Inc. (MRNA - Free Report) has been actively engaged in development of a coronavirus vaccine since January. The company is developing an mRNA-based vaccine, mRNA-1273, for COVID-19, which uses a genetic form of the virus' genome. The vaccine is intended to target the spike (S) protein of the coronavirus.
Moderna shares have surged 158.2% so far this year against the industry’s decrease of 0.8%.
In March, the company announced that the first patient in a phase I study was dosed with mRNA-1273. The study is being conducted by the National Institutes of Health ("NIH"). The company succeeded in starting a clinical study for COVID-19 vaccine in just over nine weeks from sequence selection for the SARS-CoV-2 vaccine.
The phase I study is evaluating three doses of mRNA-1273 — 25, 100 and 250 micrograms — which are being administered on a two-dose vaccination schedule, given 28 days apart for safety and reactogenicity.
The company has been actively preparing for a potential phase II study to build on data from the ongoing phase I study being conducted by the NIH. The company filed an investigational new drug application (“IND”) for the same with the FDA in late April.
Meanwhile, the company has been developing other mRNA-based vaccines targeting different indications in clinical stage studies.
The ongoing clinical activities as well as preparation of the IND for phase II study on mRNA-1273 are likely to have driven operating expenses higher in the first quarter.
We note that Pfizer (PFE - Free Report) in collaboration with BioNTech (BNTX - Free Report) and Sanofi (SNY - Free Report) in collaboration with TranslateBio have also been developing mRNA-based vaccines for COVID-19 as well.
Meanwhile, Moderna’s coronavirus development progress has attracted partnerships from other government as well global organizations namely, Coalition for Epidemic Preparedness Innovations (“CEPI”), the U.S. National Institute of Allergy and Infectious Diseases (“NIAID”) and the Biomedical Advanced Research and Development Authority ("BARDA"). These partnerships have provided grants to support the different stage of development of mRNA-1273.
The company announced in February-end that it had up to $183 million in additional funding available from grants. The Zacks Consensus Estimate for grant revenues is pegged at $2.5 million for the first quarter.
Moderna has few strategic alliances with pharma companies for the development of some of its pipeline candidates. These alliances generate collaboration revenues for the company. The Zacks Consensus Estimate for collaboration revenues is pegged at $15.7 million.
On the first-quarter earnings call, investors will be keen to know any update on the timeline for initiation of the phase II study on the coronavirus vaccine. (Read more: Moderna to Report Q1 Earnings: What's in the Cards?)
Moderna currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Moderna, Inc. Price and Consensus
Moderna, Inc. price-consensus-chart | Moderna, Inc. Quote
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The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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