Why Moderna Shares Rose 53.6% in April

Shares of Moderna (NASDAQ: MRNA) climbed 53.6% in April, according to data provided by S&P Global Market Intelligence, after the U.S. government offered the company funding to cover development of its coronavirus vaccine candidate all the way through regulatory approval.

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The Biomedical Advanced Research and Development Authority (BARDA), part of the Department of Health and Human Services, is offering as much as $483 million to advance Moderna's mRNA vaccine through clinical trials. The investment also will cover the manufacturing scale-up needed to address the coronavirus crisis.

Source Fool.com