Why Cheesecake Factory, BJ's Restaurants, and Dave & Buster's All Soared Wednesday
Shares of popular restaurant chains The Cheesecake Factory (NASDAQ: CAKE), BJ's Restaurants (NASDAQ: BJRI), and Dave & Buster's Entertainment (NASDAQ: PLAY) are respectively soaring 10%, 17%, and 18% early Wednesday after markets digested positive vaccine data and a set of strong pre-open earnings results.
Moderna has been developing a vaccine for COVID-19 at high speed. The company reported positive results in May, but the data was largely incomplete. Now, however, we have more insight to the data, and the results look promising. Moderna's vaccine produced neutralizing antibodies in all 45 patients, according to data published in The New England Journal of Medicine. The vaccine candidate was found "generally safe and well-tolerated," and a late-stage trial of the vaccine is set to begin July 27. "These Phase 1 data demonstrate that vaccination with mRNA-1273 elicits a robust immune response across all dose levels and clearly support the choice of 100 µg in a prime and boost regimen as the optimal dose for the Phase 3 study," said Tal Zaks, Moderna's chief medical officer, in a press release.
Image source: Getty Images.
Source Fool.com
