Why Moderna Stock Jumped Today
Shares of Moderna (NASDAQ: MRNA) climbed 5.5% on Thursday after the biotechnology company said that it had struck a deal with a key manufacturer for its experimental COVID-19 vaccine. Moderna will collaborate with European pharmaceutical company Laboratorios Farmaceuticos ROVI to potentially produce large-scale quantities of Moderna's novel coronavirus vaccine candidate mRNA-1273. Moderna says its manufacturing partner will help it supply "hundreds of millions of doses" of its COVID-19 vaccine candidate, should it receive regulatory approval, to markets outside the U.S. beginning as soon as early 2021.
