|Bid||21.61 x 3100|
|Ask||21.61 x 800|
|Day's Range||21.40 - 22.65|
|52 Week Range||11.54 - 29.79|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 05, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||29.25|
Shares of vaccine makers rose sharply again on Thursday, amid rising concerns about the outbreak of a new coronavirus in Wuhan, China that has led the authorities to quarantine the city of 11 million. Novavax Inx. , which developed a vaccine for MERS (Middle East respiratory syndrome) in 2013, gained 9% in early trade, while Moderna Inc. was up 2%. The company said it will work with the Coalition for Epidemic Preparedness Innovations (CEPI) to develop a vaccine to treat the new illness. Inovio Pharmaceuticals Inc. shares rose 9%, after that company said the CEPI has given it a grant of up to $9 million to develop a vaccine against the virus. NanoViricides , which rallied on the first reports of the news before falling back after it issued 2.5 million shares, soared 45%. The virus was first identified in December in Wuhan City, China. It has since sickened more than 599 people, including a U.S. resident who had traveled to Wuhan this month, according to the Centers for Disease Control and Prevention. China has reported 17 deaths. Health officials now believe the virus is spread human to human. The SPDR S&P Biotech ETF has gained 18% in the last 12 months, while the S&P 500 has gained 26%.
Airlines, hotels, casinos and stocks linked to Wuhan, China, continue to fall as fear of the coronavirus deters international travel and all but halts activity in the virus epicenter. Alpha Pro Tech, Ltd. (NYSE: APT) manufactures masks and protective apparel — goods already in high demand in China. Lakeland Industries, Inc. (NASDAQ: LAKE) also produces protective clothes for high-risk workers, such as the medical professionals and public health officials exposing themselves to patients.
Moderna announces funding award from CEPI to accelerate development of messenger RNA (mRNA) vaccine against novel coronavirus.
Three separate research teams are to start work on developing potential vaccines against the new coronavirus that is causing a disease epidemic in China, a global coalition set up to fight diseases said on Thursday. The Coalition for Epidemic Preparedness Innovations (CEPI), which is co-funding the emergency projects, said the plan was to have at least one potential vaccine in clinical trials by June. The research will be conducted by the drug and vaccine developer, Moderna, working with the U.S. National Institute of Allergy and Infectious Diseases, the U.S. firm Inovio Pharma, and a team at the University of Queensland, Australia.
(Bloomberg) -- The promise of a vaccine for coronavirus has sparked rallies in a handful of stocks this week but past pandemics show there may be little to show for drugmakers’ efforts.Moderna Inc. became the latest stock to get a bump after saying it is working with the U.S. National Institutes of Health on a vaccine. The shares shot up as much as 11% on Wednesday to the highest in eight months. Novavax surged 71% on Tuesday, its biggest rally in more than 10 years, after the company said it was looking into a vaccine.While the timeline to start clinical trials has gotten faster since the SARS outbreak some 17 years ago, developing new vaccines is still time consuming. In the case of Moderna, an experimental vaccine could be available to test in humans within about three months, according to Anthony S. Fauci, director of the National Institute of Allergy and Infectious Diseases at the NIH.“Obviously that doesn’t mean, you’re going to have a vaccine ready for use in that time, because that’s just phase one for safety,” Fauci said in a phone interview, referring to the earliest stage of drug testing in people.Testing can also be affected by changes in need. The NIH started safety testing for a Zika vaccine in 2016 but a clinical trial is stalled and it will take another Zika outbreak to find out if it works or not, according to Fauci.“Zika went away it’s no longer determined to be a hot priority,” said William Schaffner, professor of infectious diseases at Vanderbilt University School of Medicine. “If you were the CEO of the vaccine manufacturer understandably you would dial back that effort.”In this latest outbreak, Novavax has focused on studying the virus’s genetic code rather than human or animal testing. “It’s hard to get scaled up and ready in a short period of time, but it’s possible,” said Gregory Glenn, the company’s head of research and development.Novavax developed an Ebola vaccine and had early results showing immune responses in 2015 but hasn’t pursued further development. Glenn blamed limited funding, saying “there’s no real market, the only market is a disaster.”The need for cash in the U.S. to be prepared for a pandemic was echoed by the Biomedical Advanced Research and Development Authority, within the HHS Office of the Assistant Secretary for Preparedness and Response.“We have ongoing partnerships with several developers of response-capable platforms for expedited development of medical products in each of these areas,” said Rick Bright, the agency’s director, in an email. “However, it is important to note that BARDA does not currently have adequate funding to initiate product development activities for this novel coronavirus or other emerging infection diseases.”“Although Congress authorized a public health emergency fund that could be used in such cases, funding for it has not been appropriated,” Bright said. “If funding becomes available, we would be positioned to be able to initiate activities quickly.”Merck & Co.’s Ebola vaccine finally received U.S. regulatory approval late last year after the drugmaker licensed it from NewLink Genetics Corp. in 2014.(Updates story published on Wednesday to add BARDA comments in ninth paragraph.)To contact the reporter on this story: Cristin Flanagan in New York at email@example.comTo contact the editor responsible for this story: Catherine Larkin at firstname.lastname@example.orgFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Some small vaccine developers that saw their stocks take off on Tuesday over growing concern about the new coronavirus are using the market interest to raise money.
The biotech company Moderna could run human trials as soon as April to test a vaccine for the mysterious virus that recently emerged in China, according to a report on Tuesday.
Moderna, the Cambridge, Mass., drugmaker, and the National Institutes of Health are working on a coronavirus vaccine. Hundreds of people, mostly in China, have been infected with coronavirus.
The CEO of a Cambridge biotech startup promised the company would “deliver in 2020” after announcing a second delay with its first-ever clinical trial.
Moderna builds on clinical validation of systemic delivery with two additional development candidates in new autoimmune therapeutic area.
Shares of the biotech company are up more than 9% on news of progress on the company’s vaccine for cytomegalovirus, a disease that can lead to birth defects.
Here's a roundup of top developments in the biotech space over the last 24 hours. Scaling The Peaks (Biotech Stocks Hitting 52-week highs on Jan. 9) Acceleron Pharma Inc (NASDAQ: XLRN ) Allergan plc (NYSE: ...
Moderna announces additional positive Phase 1 data from its cytomegalovirus (CMV) vaccine (mRNA-1647) and first participant dosed in Phase 2 study
Moderna to provide business and pipeline updates at the 2020 J.P. Morgan Healthcare Conference.
Flagship Pioneering, a unique life sciences innovation enterprise, today announced the launch of Ring Therapeutics, an early-stage biotechnology company developing first-in-class gene therapies using a new viral vector platform based on its groundbreaking work on the human commensal virome. Ring's technology promises to address many of the limitations of current DNA and gene therapies, such as limited access to diverse tissues, inability to redose, risk of genomic integration, and poor tolerability. Ring's founding and continued development are resourced by an initial capital commitment of $50 million from Flagship Pioneering.
The advance in gene therapy and RNA interference has boosted the biotech space so far in 2019. With the projected growth in the sector, here are five stocks poised to grow.
Russell 2000 ETF (IWM) lagged the larger S&P 500 ETF (SPY) by more than 10 percentage points since the end of the third quarter of 2018 as investors first worried over the possible ramifications of rising interest rates and the escalation of the trade war with China. The hedge funds and institutional investors we track […]
Moderna announced its key 2020 investor and analyst event schedule, including Manufacturing & Digital Day, Vaccines Day, Science Day and R&D Day.
Cambridge-based biotech Moderna Therapeutics Inc. is again expanding in Norwood, with plans to lease a 230,000-square-foot former Polaroid facility, invest up to $50 million, transfer 250 employees from its headquarters and add 100 new positions. Moderna (Nasdaq: MRNA) will renovate an initial 88,000 square feet at 200 Tech Drive in Norwood by mid-summer 2020, and aims to occupy the whole property by 2022. Scottsdale, Arizona-based UTI (NYSE: UTI) had occupied the property since 2004, but earlier this year said it had stopped accepting technical student applications and would shutter the Norwood campus in 2020.