Here's Why Translate Bio Stock Is Rocketing Higher Today

Shares of Translate Bio (NASDAQ: TBIO), a clinical-stage biotechnology company, jumped today after the company announced an expanded partnership with Sanofi (NASDAQ: SNY) that includes the development of a coronavirus vaccine candidate. Investors excited about the collaboration expansion pushed the stock 45.6% higher as of 10:38 a.m. EDT on Tuesday.

Sanofi and Translate Bio have been working together to develop messenger RNA (mRNA) vaccines for undisclosed diseases since 2018. In March, the two expanded their partnership beyond the original agreement to include an mRNA vaccine candidate directed against SARS-CoV-2, the virus that causes COVID-19.

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Source Fool.com