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Aug. 11, 2020, 6:02 p.m. EDT

Moderna stock pops after agreement to sell at least 100 million COVID-19 vaccine doses to U.S. government

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By Jeremy C. Owens

Moderna Inc. /zigman2/quotes/205619834/composite MRNA -1.47% announced Tuesday afternoon that it has reached an agreement to sell 100 million doses of its investigational vaccine for COVID-19 to the U.S. government for more than $1.5 billion. "Breaking: Moderna announces a supply agreement with the U.S. government to secure an initial 100 million doses of mRNA-1273 for up to $1.525 billion with option granted to U.S. government to purchase up to an additional 400 million doses," the company revealed in a tweet . Moderna shares jumped more than 8% in after-hours trading immediately following the announcement. Earlier studies of Moderna's vaccine candidate produced antibodies for COVID-19, the company previously announced, and it is currently operating a Phase 3 study of the vaccine. "The U.S. government has announced that consistent with its commitment to free access to COVID-19 vaccines, Americans will receive mRNA-1273 at no cost for the vaccine itself," Moderna added in a subsequent news release . "As is customary with government-purchased vaccines, healthcare professionals could charge for the cost of administering the vaccine." Moderna shares have exploded higher amid the frenzy to develop a COVID-19 vaccine during a worldwide pandemic, with the share price jumping more than 250% so far this year as the S&P 500 index /zigman2/quotes/210599714/realtime SPX -0.30% has gained 5.2%.

US : U.S.: Nasdaq
$ 131.02
-1.96 -1.47%
Volume: 10.07M
Jan. 22, 2021 4:00p
P/E Ratio
Dividend Yield
Market Cap
$51.85 billion
Rev. per Employee
-11.60 -0.30%
Volume: 2.29B
Jan. 22, 2021 4:59p

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