The progression of a COVID-19 vaccine to market is top of mind for most Americans. Right now, over 67% of Americans believe that a vaccine is needed for life to return to normal, but many would still lack confidence in an approved vaccine. Almost 29% respondents to a ClearPath poll said they would wait at least one year to get a vaccine that's deemed safe and efficacious. Luckily, Moderna (NASDAQ: MRNA) currently has one of the most promising COVID-19 vaccine candidates in the works, which employs new messenger RNA (mRNA) technology. The pressure is on for the fledgling biotech to return trial results soon, especially since competitors Pfizer (NYSE: PFE) and BioNTech (NASDAQ: BNTX) reported their candidate's 90% efficacy upon its interim analysis on Monday.
Coronavirus cases in the U.S. reached a new daily record of 132,541 on Nov. 6, and on five days of seven last week, more than 1,000 deaths were recorded. If you're an investor, you might find yourself especially anxious about when a COVID-19 vaccine would be widely available: A consistent rise in the share prices of the companies who succeed in their coronavirus projects will surely accompany their achievements for the public good. Year to date, Moderna's stock is already up more than 290% on coronavirus investor optimism. But will Moderna's candidate successfully clear clinical studies and advance to approval? Is the stock a buy regardless of the outcome?
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