Moderna’s inventory climbed higher on Tuesday after the company announced it had begun testing its Covid-19 vaccine in children.
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The study takes place in children aged 6 months to less than 12 years in the USA and Canada, Modern (MRNA) said in a news release. The National Institute for Allergy and Infectious Diseases – led by dr. Anthony Fauci – and the Biomedical Advanced Research and Development Authority are working together on the effort.
In today’s stock market, the Moderna share rose by 8.6% to 156.02.
Modern plans to enroll 6,750 participants. Researchers will test two dose levels in participants from 2 years to less than 12 years. They will also study three dose levels in younger children from 6 months to 2 years. All participants will receive a second dose 28 days later.
Modern stock: how to determine second doses
Results from the first part of the study will indicate which dose levels Moderna is testing in the second part. Then it will place the coronavirus vaccine against a placebo. Researchers will follow the volunteers 12 months after the second dose.
The biotechnology company is working to expand its coronavirus vaccine to people under the age of 18. In December, Moderna began testing the drug among teens, between the ages of 12 and under 18. However, the Moderna stock did not appear on the news.
However, the Moderna share jumped on Monday after the company announced it had begun testing the next-generation Covid-19 vaccine. The remedy is developed with the possibility of being stable in a standard refrigerator.
Highly rated Biotech stock
According to IBD Digital, Moderna stock has a strong relative strength of 91 out of a best possible 99. The RS Rating tracks the performance of a 12-month stock. On this benchmark, Moderna shares fall into the top 9% of all shares.
Shares have also recently broken out of a cup base, pattern recognition from MarketSmith.com shows. But after peaking on February 8, Moderna’s stock slipped.
Follow Allison Gatlin on Twitter @IBD_AGatlin.
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