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Aug. 5, 2020, 7:35 a.m. EDT

Moderna's stock rallies as it moves forward with enrolling its Phase 3 COVID-19 vaccine trial

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By Jaimy Lee

Shares of Moderna Inc. /zigman2/quotes/205619834/composite MRNA +2.92% gained 1.9% in premarket trading on Wednesday after the company said it plans to complete enrollment for the Phase 3 trial for its COVID-19 vaccine candidate in September and that it has already received $400 million in deposits in preparation of the experimental vaccine's regulatory authorization. Moderna, founded in 2010, is considered a preclinical company because it does not market any approved medical products. "As we pivot to a commercial-stage company, we recognize the need for responsible pricing in the face of the pandemic," CEO Stephane Bancel said in a news release. Moderna is developing one of the frontrunning COVID-19 vaccines, and the orders and government funding for its candidate have shifted the company's balance sheet this year. Moderna had a loss of $116.5 million, or 31 cents per share, in the second quarter of 2020, compared with a loss of $134.9 million, or 41 cents per share, in the same quarter a year ago. It had revenue of $66.3 million in the quarter, up from $13.1 million in the like quarter in 2019, with the company attributing the increase to COVID-19 funding and unrelated collaboration revenue from AstraZeneca /zigman2/quotes/200304487/composite AZN +0.91% /zigman2/quotes/203048482/delayed UK:AZN +1.13% . Its general and administrative expenses were $36.6 million for the past three months, compared with $28.5 million for the same period a year ago. The company has $3.07 billion in cash, as of June 30, up from $1.26 billion in December. Moderna's stock has soared 301.1% year-to-date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.12% is up 2.3%.

/zigman2/quotes/205619834/composite
US : U.S.: Nasdaq
$ 69.87
+1.98 +2.92%
Volume: 13.21M
Sept. 18, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$27.57 billion
Rev. per Employee
$177,721
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/zigman2/quotes/200304487/composite
US : U.S.: NYSE
$ 56.45
+0.51 +0.91%
Volume: 2.93M
Sept. 18, 2020 4:00p
P/E Ratio
68.84
Dividend Yield
2.43%
Market Cap
$148.75 billion
Rev. per Employee
$342,432
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/zigman2/quotes/203048482/delayed
UK : U.K.: London
8,746.00 p
+98.00 +1.13%
Volume: 3.26M
Sept. 18, 2020 4:35p
P/E Ratio
67.32
Dividend Yield
2.47%
Market Cap
£114.77 billion
Rev. per Employee
N/A
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/zigman2/quotes/210599714/realtime
US : S&P US
3,319.47
-37.54 -1.12%
Volume: 4.09B
Sept. 18, 2020 5:15p
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