Moderna’s stock rose on Tuesday after the company announced it had started testing its Covid-19 vaccine on children.
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The study is being carried out on children aged 6 months to less than 12 years in the United States and Canada, Modern (MRNA) said in a press release. The National Institute of Allergy and Infectious Diseases – headed by Dr. Anthony Fauci – and the Advanced Biomedical Research and Development Authority are collaborating on the effort.
In today’s stock market, Moderna’s shares jumped 8.6% to 156.02.
Moderna plans to enroll 6,750 participants. The researchers will test two dose levels in participants aged between 2 years and less than 12 years. They will also study three dose levels in younger children, aged 6 months and less than 2 years. All participants will receive a second dose 28 days later.
Moderna Stock: How to determine the second doses
The results of the first part of the study will inform which dose levels Moderna tests in the second part. Then, he will compare the coronavirus vaccine with a placebo. The researchers will monitor the volunteers for 12 months after the second dose.
The biotechnology company is working to expand its coronavirus vaccine to people under 18. In December, Moderna began testing the drug on teenagers, aged 12 and under 18. However, Moderna’s shares did not appear in this news.
However, Moderna’s stock jumped on Monday after the company announced it had started testing its next-generation Covid-19 vaccine. The drug is being developed with the potential to be stable in a standard refrigerator.
Highly classified biotechnology stock
Moderna’s shares have a strong Relative Strength Rating of 91 out of the 99 best possible, according to IBD Digital. The RS Rating tracks the performance of a stock in 12 months. Accordingly, Moderna’s shares are among the best 9% of all shares.
The stock has also recently come out of a canopy base, as shown by MarketSmith.com’s pattern recognition. But after reaching a high point on February 8, Moderna’s shares fell.
Follow Allison Gatlin on Twitter at @IBD_AGatlin.
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