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Thursday, June 30, 2022

Moderna [NASDAQ: MRNA] Inks Supply Agreement with Switzerland

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Moderna, Inc. [NASDAQ: MRNA] disclosed that it has inked a supply agreement on Thursday with the Swiss Federal Government. As per the agreement, Moderna Inc is bound to deliver 7 million doses of the booster vaccine to the Swiss Government in 2022. The firm has also provided the extra opportunity for another 7 million doses for distribution during the second half of 2022 or Q1 of 2023.

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Recently, data of Phase II study revealed by MRNA in the U.S. demonstrated that a single 50 µg dose of mRNA-1273 or mRNA-1273.351 provided as a booster to earlier treated people enhanced counterbalancing antibody titer responses against SARS-CoV-2 and two variants of concern, B.1.351 and P.1. B.1.351 is first found in South Africa. On the other hand, P.1 was first found in Brazil.

Shares of Moderna Inc. plunged -6.04% as it lost -9.84 during the pre-market trading session of Thursday. In the past 52-weeks of trading, shares of the firm went up 253.00% and went down to -13.96 during the 52-week of low and high, respectively. Looking at its liquidity, it has a current ratio of 1.40. MRNA has a total market capitalization of $64.02 billion at the time of writing.

Furthermore, it has been disclosed that this contract is dependent on the regulatory authority of the booster vaccine candidate. Moreover, this is not the first contract of the firm with the Swiss Government. Earlier, MRNA inked a deal with Switzerland to ship a total of 13.5 million doses of the COVID-19 Vaccine Moderna. Swissmedic is the Swiss Agency for Therapeutic Products. It allowed the COVID-19 Vaccine Moderna in Switzerland on January 12, 2021.

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