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Shares of Moderna (MRNA - Free Report) soared more than 25% this morning after it reported positive results from early human tests of its vaccine candidate for the coronavirus. According to the company, the vaccine produced Covid-19 antibodies in all 45 participants.
The vaccine also produced neutralizing antibodies against the disease in at least eight participants. These neutralizing antibodies could be important in acquiring protection, according to experts. FDA had recently granted Fast Track status for this vaccine.
Major indexes are rallying on vaccine hopes as our lives can return to normal only after an effective and safe vaccine. According to the World Health Organization, more than 100 coronavirus vaccines are in development globally.
Many healthcare giants including J&J (JNJ - Free Report) and Pfizer (PFE - Free Report) are also working on vaccines. Some of these will be available for testing this fall but for mass consumption globally only early next year.
Pharma companies may not be able to generate significant revenues from these products any time soon since billions of dollars will have to be spent on manufacturing facilities, and many may not even be able to make it to market. And most drug companies have pledged not to profit from vaccines or treatments for this virus at least for now.
Instead of trying to pick winners from the virus, it is better to invest in broader biotech ETFs that stand to benefit from increased investor interest and rising spending on drugs and healthcare all over the world.
To learn more about the iShares NASDAQ Biotechnology ETF (IBB - Free Report) , the SPDR S&P Biotech ETF (XBI - Free Report) and the VanEck Vectors Biotech ETF (BBH - Free Report) , please watch the short video above.
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Moderna Soars: Biotech ETFs in Focus
Shares of Moderna (MRNA - Free Report) soared more than 25% this morning after it reported positive results from early human tests of its vaccine candidate for the coronavirus. According to the company, the vaccine produced Covid-19 antibodies in all 45 participants.
The vaccine also produced neutralizing antibodies against the disease in at least eight participants. These neutralizing antibodies could be important in acquiring protection, according to experts. FDA had recently granted Fast Track status for this vaccine.
Major indexes are rallying on vaccine hopes as our lives can return to normal only after an effective and safe vaccine. According to the World Health Organization, more than 100 coronavirus vaccines are in development globally.
Many healthcare giants including J&J (JNJ - Free Report) and Pfizer (PFE - Free Report) are also working on vaccines. Some of these will be available for testing this fall but for mass consumption globally only early next year.
Pharma companies may not be able to generate significant revenues from these products any time soon since billions of dollars will have to be spent on manufacturing facilities, and many may not even be able to make it to market. And most drug companies have pledged not to profit from vaccines or treatments for this virus at least for now.
Instead of trying to pick winners from the virus, it is better to invest in broader biotech ETFs that stand to benefit from increased investor interest and rising spending on drugs and healthcare all over the world.
To learn more about the iShares NASDAQ Biotechnology ETF (IBB - Free Report) , the SPDR S&P Biotech ETF (XBI - Free Report) and the VanEck Vectors Biotech ETF (BBH - Free Report) , please watch the short video above.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>