Moderna, Inc. (MRNA), a biotechnology company, has soared 5.07% in the premarket trading session. As a result, MRNA stock is trading at $309.74 at the time of the writing. The increase could be attributed to the company’s announcement of preliminary booster data to address the omicron variant. On Friday, MRNA closed the day at $294.80 after increasing 4.53% during regular trading hours.
Why MRNA Soaring?
On Monday, MRNA announced the preliminary neutralizing antibody data against the Omicron variant after the company’s booster candidates at 50 µg and 100 µg dose levels. Currently, the 50 µg booster of mRNA-1273 increased neutralizing antibody levels against Omicron approximately 37-fold against the pre boost level and a 100 µg dose of mRNA-1273 increased neutralizing antibody levels approximately 83-fold compared to pre-boost levels.
Q3 2021 Operational Results
On 4th November, MRNA released the operational results for the third quarter of the fiscal year 2021. The quarter ended on 30th September. The total revenue generated by the company during the period was $4.9 billion against $157 million for the same period of 2020. The total operating expenses bore by the company during the period were $1.4 billion against $392 million for the same period of 2020. The net income generated by the company during the quarter was $3.3 billion (or $8.27 and $7.70 per basic and diluted share) against the net loss of $233 million (or $0.59 per basic and diluted share) for the same quarter of 2020.
Stéphane Bancel, Chief Executive Officer of MRNA, while commenting on the results said that the company is humbled to have hundreds of millions of people around the world with its COVID 19 vaccine. Yet the company knows that its work is not done and the company would not rest until its vaccine is available to everyone who needs it. The company is more energized than ever by the impact its platform will have on human health.
Future Outlook for MRNA
During the last three months, MRNA stock has declined more than 30%. The decline could be associated with the uncertainty related to the clinical trials being carried out recently. Analysts believe that just like the impact the COVID shot had on the stock, the upcoming results of other clinical trials would also impart the influence on the stock in the upcoming months.