Moderna Inc. [NASDAQ: MRNA] has announced Sunday that it has changed its contract with Biomedical Advanced Research and Development Authority (BARDA). According to the modification, it has received an additional commitment of $472 million to aid the late clinical-stage development including the expanded Phase 3 study of the company’s mRNA vaccine candidate (mRNA-1273) against COVID-19.
Earlier, BARDA has awarded up to $483 million to help the clinical development and mRNA-1273 with a small number of participants in phase 3 clinical trial. After consultation with the US Food and Drug Administration (FDA) and Operation Wrap Speed, Moderna Inc has decided to conduct a larger Phase 3 clinical trial.
After this modification in contract with BARDA the additional payment help company to conduct the phase 3 trial with 30,000 participants. The total investment from BARDA is now valued at $955 million.
Shares of Moderna Inc. dropped 2.81% during the trading of Friday. The company has a closing price of $73.21. It has a trading volume of 27.7 million as compared to the average volume of 25.91 million.
If we turn our focus on profitability, it has return on assets (ROA) of -29.20%, return on equity (ROE) of -37.40% and return on investment (ROI) of -44.90%. Looking at its liquidity, this company has a current and quick ration of 9.30.
In the past 52-weeks of trading, its stocks have oscillated between the low of $11.54 and a high of $95.21. It has moved up 534.40% from its 52-weeks low and moved down -23.11% from 52-weeks high. Moderna Inc has recorded the sales of 52.60 million and has a market cap of 29.21 billion.
Stéphane Bancel, Moderna’s Chief Executive Officer has expressed gratitude to BARDA for the support in the trial of the coronavirus vaccine candidates. Moderna Inc phase 3 COVE study will begin from tomorrow July 27 in collaboration with the National Institute of Allergy and Infectious Diseases (NIAID).
FDA has checked the phase 3 stuy protocol and its process is same as according to the FDA guidance for COVID-19 vaccine. mRNA-1273 is an mRNA vaccine against COVID-19 encoding for a prefusion stabilized form of the Spike (S) protein. It was selected by Moderna Inc in collaboration with investigators from the VRC.