Moderna Inc. (NASDAQ: MRNA) stock is gaining after-market after announcing data on the Bivalent COVID-19 Booster Platform. MRNA stock is trading at $150.41, gaining more than 7% from the previous close. MRNA stock previously closed at $140.34 with a trading volume of 7.31 million shares.
Global Biotech Industry Dynamics
Moderna Inc. (NASDAQ: MRNA) is a leading biotech company in the industry. After the covid-19 pandemic, every biotech company was striving to develop a vaccine for the coronavirus, which could effectively help the government control the pandemic. When they finally developed a covid-19 vaccine named Moderna, the company saw a breakthrough. Since then, the stock of the company has skyrocketed. At one point, it was trading around $497 per share, the highest in its history.
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The market size of the worldwide biotechnology industry was around $733 billion in 2020 and $793 billion in 2021, respectively. According to the estimations, the worldwide market size of the biotech sector will reach around $1.6 trillion in 2030, with a compound annual growth rate of 8.7 percent over the next decade.
MRNA: Update on Bivalent COVID-19 Booster Platform
For the bivalent COVID-19 booster platform, Moderna Inc. (NASDAQ: MRNA) has released additional clinical results, including data on the company’s first candidate, mRNA-1273.211. The Beta variation of significance and more recent variants of concern, such as Omicron, have all discovered mutations in this candidate.
MRNA-1273.211 was shown to be superior to the Beta, Delta, and Omicron versions that were being monitored for one month following delivery. Six months after injection, Beta and Omicron forms of the concern were superior. At 50 g dosages, mRNA-1273.211 was well tolerated and had a similar reactogenicity profile to mRNA-1273. Research Square has a copy of the manuscript you may read.
In a Phase 2/3 clinical trial, Moderna looks at a novel bivalent booster with additional Omicron-specific mutations (mRNA-1273.214). Moderna will select a booster for the Northern Hemisphere for the autumn of 2022 based on early findings from this candidate, which Moderna expects in the second quarter.
MRNA: Upcoming Events
MRNA announced on April 13, 2022, that they would release their results for the first quarter of 2022 on Wednesday, May 4, 2022. Its management will host a conference call to discuss the corporate updates with investors. The time of the conference call is 8:00 a.m. ET.