Moderna has $ 400 million in deposits for Covid-19 vaccine

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Biotechnology, which received funding from the U.S. Operation Warp Speed ​​program, also said it has around $ 400 million in customer deposits for a potential supply of its mRNA-1273 vaccine.

Moderna made the announcement in its earnings release Wednesday morning. The company recorded a loss that was lower than expected, but revenue higher than expected.

Actions of Modern (RNAm) has fallen by around 2% on the news, but stock has climbed more than 300% this year in hopes of developing a successful coronavirus vaccine. The company has also come under close scrutiny by some investors, as several insiders have sold shares as they’ve taken off.

People have also been watching closely to see what drug companies plan to charge for post-biotech treatments. Sciences of Gilead (BROWN) revealed in June that its drug remdesivir would cost $ 520 a vial, or $ 3,120 for a five-day six-vial course, for people covered by private health insurance plans.

But Moderna CEO Stéphane Bancel promised on a conference call with analysts that his vaccine would be affordable.“We are working with governments around the world and others to ensure that the vaccine is accessible regardless of the ability to pay. And we’ll be responsible for the price… during the pandemic, ”Bancel said, adding that transactions for smaller amounts of vaccine have so far cost between $ 32 and $ 37 per dose and Moderna would charge lower prices for it. higher volumes of mRNA-1273.

Moderna is just one of many companies trying to design a vaccine. Actions of another small biotechnology, Novavax (NVAX), climbed 20% on Wednesday after announcing its own promising clinical trial results.

Novavax has also received funding for Operation Warp Speed, as have giant pharmaceutical companies Johnson & Johnson (JNJ), AstraZeneca (AZN), GlaxoSmithKline (GSK) and a joint trial by giant Big Pharma Pfizer (PFE) and Germany BioNTech (BNTX).

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