Moderna’s shares rose 19% to $74.45 on Monday following the announcement of its addition to the Nasdaq, an optimistic improvement through analysts.
On Monday morning, the Nasdaq announced that Moderna would be added to its Nasdaq 1000 index before the market opened on July 20. Modern will update CoStar Group in the index, according to a press release.
Concerns about how Moderna’s COVID-19 vaccine works and the conclusion of major government procurement contracts, Michael Yee, Jefferies’ equity analyst, wrote in a note Monday.
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“There is a high probability that the Modern vaccine will produce paints and obtain at least one emergency use authorization in 2021,” Yee wrote. “We believe that a viable vaccine can generate billions in sales, which we consider moderate given that there would be strong demand in the first 1 or 2 years.”
In the first full year of sales of his future vaccine, the Jefferies style shows that it can generate $2 billion internationally if another 50 million people receive the $50 vaccine. According to the memorandum, this can reach a maximum of $5 billion between 2025 and 2026.
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There are other catalysts that can increase Modern’s involvement, adding the publication of Phase 1 details, initial knowledge of the Phase 2 patient examination by mid-2020 and prospective phase 3 prevention knowledge this year or next, or planned emergency use authorization. or accelerated the approval of its COVID-19 vaccine.
Modern is one of many pharmaceutical and biotechnological corporations looking to expand a coronavirus vaccine. The company has a complex examination of another 30,000 people that is expected to begin in July.
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