Forget Moderna -- This Is a Stronger Coronavirus Stock
The coronavirus pandemic has plagued countries around the world since late 2019, with no end in sight. Biotech companies are now in a frantic race to develop a vaccine against SARS-CoV-2, the novel coronavirus that has contributed to the deaths of over 200,000 people in the U.S. alone. Globally reported cases stand at 30 million, with over 950,000 COVID-related deaths. Cases in the U.S. alone have reached 6.8 million, and with economies shut down and stay-at-home orders in place, the country has found itself in the worst economic downturn since the Great Depression.
Currently, at least 212 coronavirus vaccines are in development, with 33 in clinical testing. One of the companies involved, U.S.-based biotech Moderna (NASDAQ: MRNA) has grabbed a lot of invest attention this year. Moderna is one of five companies leading in the vaccine race. Its candidate, mRNA-1273, a messenger RNA vaccine, is in a phase 3 trial that began on July 27.
Moderna's stock enjoyed a boost from positive results out of the company's phase 1 study, which showed that the vaccine candidate was safe and successfully neutralized antibodies, meaning it could prevent future infection by the novel coronavirus. Moderna's phase 2 study is still under way to examine the vaccine further. But if you consider the business beyond its development of its coronavirus vaccine, Moderna may not be such a good investment.
Source Fool.com
