Today, Moderna announces it will be going to trial. No, not the patent case court trial; but the Phase 3 study of their Covid-19 vaccine. The company announces it has dosed it's first patient in a study that could enroll up to 30,000 patients.
The study aims to find its vaccine effective at preventing symptomatic Covid-19 by injecting patients on day one with 100 microgram doses of it's vaccine. The second dose will be given 29 days after in consideration that the first dose bodes effective at preventing Covid-19 infection. The placebo group in this study will receive a saline injection during the same period.
With support from our Federal government through the National Institute of Allergy and Infectious Diseases, and with BARDA; Moderna has been able to secure close to $1 billion in funding. The great support shown to them has allowed the company to be the first to enter a Phase 3 study in the country.
The trial seeks both a primary and secondary endpoint. The primary endpoint will measure the success of the vaccine inhibition of symptomic Covid-19 infection. While the secondary endpoint will measure prevention of asymptomatic infection.
I assume it's safe to say that investors have already bet on a successful Phase 3 study? The stock is currently trading above it's 200 simple moving average and looking to go higher. Further announcements over the weekend regarding additional BARDA funding has it trading 8% higher in this mornings pre-market. I guess we will have to see if this will hold. Any negative news regarding the Phase 3 could send the stock crashing. Let's hope investors are right and Moderna gets it right, so maybe we can get back to a normal life. Until then, the clock is ticking.