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Vaccine hope jumps on a dose of Moderna COVID-19 vaccine news
3 minutes to read
Peter Garnry
Chief Investment Strategist
Summary: Moderna shares were up 20% on the news that its COVID-19 vaccine shows promising results of immune system response and generally good safety in its phase 1 study. However, investors should be a bit cautious putting too much weight on the news as the study only consisted of 45 subjects and phase 1 studies are dominated by false positives.
Moderna, a US-based biotechnology company, which is on the official WHO list of companies working on a COVID-19 vaccine and highlighted in our research note from 7 May on companies working on vaccines. Yesterday, the company published interim phase 1 trial on their SARS-CoV-2 vaccine showing the vaccine was generally safe and well tolerated. Shares rose 20% and the news helped sentiment in global equities to improve further.
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