Shares of the biotech Moderna plunged 6.2% Thursday afternoon after the health-care news website Stat reported the company was delaying the start of a Phase 3 trial of its experimental Covid-19 vaccine.
The report, based on quotes from unnamed sources described as “investigators,” says the delay is due to changes being made to the trial protocol, a document that lays out the design of the trial.
In a statement, Moderna (ticker: MRNA) said it still expects to begin the trial, which was set to start on July 9, this month. “We expect to be the first to start a Phase 3 trial,” the company said. “We have worked closely with [National Institutes of Health/Operations Warp Speed] to align on the final protocol in order to begin the trial on time.”
The report comes a day after Pfizer (PFE) released promising data on its own Covid-19 vaccine candidate. Both the Pfizer vaccine and the Moderna vaccine are based on messenger RNA, and both companies have laid out increasingly aggressive development timelines.
Moderna had said it plans to begin a 30,000 patient Phase 3 vaccine study in July, and that it could have efficacy data by Thanksgiving. Pfizer, meanwhile, hopes to start its own 30,000 patient Phase 2b/3 study in July, and to file for Food and Drug Administration approval by October.
Pfizer shares rose 2.5% Thursday.
In the Stat story, the anonymous “investigators” said that changes to a trial’s protocol are common. Covid-19 cases, meanwhile, are skyrocketing in the U.S., with roughly 50,000 new cases reported nationwide on Wednesday, a record.
Write to Josh Nathan-Kazis at josh.nathan-kazis@barrons.com
Business - Latest - Google News
July 03, 2020 at 01:10AM
https://ift.tt/3goBXXb
Moderna Stock Tumbles on Report of Covid-19 Vaccine Trial Delay - Barron's
Business - Latest - Google News
https://ift.tt/2Rx7A4Y
Bagikan Berita Ini
0 Response to "Moderna Stock Tumbles on Report of Covid-19 Vaccine Trial Delay - Barron's"
Post a Comment