Modern (MRNA) said late Tuesday that its updated Covid vaccine had generated antibodies against the mutation that was first discovered in South Africa. The news traded the Modern stock in after-hours.
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The company has tested two updated vaccines. One focuses specifically on the variant that was first discovered in South Africa. The other combines Moderna’s authorized vaccine with the updated shot.
Both increased the level of antibodies against virus mutations in mice. The combination approach led to the “broadest level of immunity.” The use of the variety-specific vaccination as a six-month booster shot also increased the antibody level.
Modern equities rose 7.4% today to 149.71 in the stock market after the Food and Drug Administration and the U.S. Centers for Disease Control and Prevention stopped using a competitive Covid vaccine from Johnson & Johnson (JNJ) due to concern of blood clots. In the after-hours trade, the Moderna share gained another 1.8% and traded close to 152.40.
Modern stock: an update of the vaccine for covide vaccines
Moderna also presented an update on its first Covid vaccine.
As of April 9, the original coronavirus vaccine is more than 90% effective against Covid and 95% effective against severe cases. It is based on more than 900 cases of Covid among study participants, including about 100 serious cases, Moderna said.
Further tests show that antibodies last at least six months after the second dose of Covid vaccine, Moderna said.
The company has also completed the registration of 3,000 participants aged 12 to 17 in a study of the Covid vaccine and is enrolling 6,750 children aged 6 months to 11 years in another test. Testing vaccines in young children is more difficult because the dosage levels often differ based on weight.
Both tests could give Moderna shares another chance to shine.
As of April 12, the company has delivered 132 million doses of its Covid vaccine worldwide. It is on track to deliver the second 100 million doses to the US government by the end of May. After that, Moderna plans to send another 100 million doses by the end of July.
No evidence of blood clots
Moderna also confirmed that its Covid vaccine has not been linked to more than 64.5 million doses worldwide of blood clots or thrombotic events.
This is the key to the Modern share. U.S. regulators on Tuesday suspended the use of Johnson & Johnson’s Covid shot after six recipients experienced low blood platelet clots. Regulators have said that none of the messenger RNA vaccines have been linked to such events. The others were made by Pfizer (PFE) and BioNTech (BNTX).
Follow Allison Gatlin on Twitter @IBD_AGatlin.
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