Moderna seems to have gained the trust of the American government, as they reached another agreement.
At the end of July, Moderna announced that it secured a funding of $472 million from the government to conduct an in-depth Phase III clinical trial for the COVID-19 vaccine they are producing.
Moderna announced that by the new agreement, it has to sell 100 million doses of its potential vaccine – mRNA-1273 – to the US government. The pharmaceutical company will be paid more than $1.5 billion for the doses. Under the deal, the US government has the option to buy 400 million more doses.
This move is part of the US government plan to provide the COVID-19 vaccine free of charge; however, medical staff may ask for money when administering it.
Following the news, Moderna stock price gained more than 8%. Year-to-date, the stock grew more than 250%, while USA500 went up 5.2%.
See what other pharmaceutical companies are getting help from the US government on CAPEX.com!
Sources: marketwatch.com
