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Oct. 29, 2020, 8:15 a.m. EDT

Moderna's stock is up as it says it is 'actively preparing' for launch of COVID-19 vaccine

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By Jaimy Lee

Shares of Moderna Inc. /zigman2/quotes/205619834/composite MRNA +10.78% were up 2.9% in premarket trading on Thursday after the company again reminded investors that the Phase 3 clinical trial for its COVID-19 vaccine candidate is fully enrolled as part of its third-quarter earnings announcement. It also said it is "actively preparing for the launch" of its COVID-19 vaccine. Moderna is a preclinical company, meaning it does not yet have an authorized or approved product available on the market. It is developing several mRNA-based vaccines, including one for the coronavirus. The company said its research and development expenses have nearly tripled to $344.5 million in the third quarter of 2020, primarily due to R&D costs for its experimental COVID-19 vaccine, compared with $119.6 million in the same quarter a year ago. Moderna said it plans to conduct two interim analyses for the late-stage trial of the vaccine. Moderna's stock has gained 236.1% so far this year, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.16% is up 1.2%.

/zigman2/quotes/205619834/composite
US : U.S.: Nasdaq
$ 109.18
+10.62 +10.78%
Volume: 25.85M
Nov. 25, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$43.20 billion
Rev. per Employee
$72,541
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/zigman2/quotes/210599714/realtime
US : S&P US
3,629.65
-5.76 -0.16%
Volume: 2.32B
Nov. 25, 2020 5:33p
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