Why Moderna, BioNTech, and Novavax Stock Soared Today
With COVID-19 cases mounting, investors took shelter in vaccine stocks on Monday. By the close of trading, shares of Moderna (NASDAQ: MRNA), BioNTech (NASDAQ: BNTX), and Novavax (NASDAQ: NVAX) were up 17%, 15%, and 12%, respectively.
Moderna's shares received a boost from news that its COVID vaccine was granted provisional registration by Australia's Therapeutic Goods Administration. The drug can now be used to immunize people in that country who are at least 18 years old. Moderna has agreements in place to potentially supply as many as 25 million doses of its vaccine to the Australian government by 2022.
Shares of Moderna, BioNTech, and Novavax rose sharply on Monday. Image source: Getty Images.
Source Fool.com
