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Here's Why Moderna (MRNA) Stock is Jumping Today

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On Monday, shares of biotech Moderna Inc. (MRNA - Free Report) soared over 26% in midday trading, and closed up nearly 20% to $80 a share.

Investors were bullish on positive results from a Phase 1 study of Moderna’s coronavirus vaccine candidate. The company tested three different dosing regimens in healthy adults aged 18-55, and participants in all three groups developed antibodies against COVID-19 by day 15 after dosing.

Antibodies could be a strong indicator of immunity.

Moderna said the vaccine appears to be generally safe and well tolerated.

Going forward, Moderna expects a Phase 2 study to begin soon, and a Phase 3 test is set for July.

In other coronavirus new, Vir Biotechnology (VIR - Free Report) also announced today that it selected two potential coronavirus treatments, which will now be sent into clinical testing with GlaxoSmithKline (GSK - Free Report) .

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