Why Moderna Stock Bounced Back Today
Moderna (NASDAQ: MRNA) bounced back on Wednesday from a dip earlier in the week, with shares up 5.9% as of 2:53 p.m. EST. The gain came after the biotech announced two positive developments Wednesday morning. Singapore approved interim authorization for COVID-19 vaccine mRNA-1273. Also, the Swiss government increased its order of Moderna's vaccine from 7.5 million to 13.5 million doses.
Both of Moderna's announcements today translate to higher revenue for the company. It already has a supply deal in place with Singapore for an unspecified number of doses of mRNA-1273. And while no financial details of Moderna's supply agreement with Switzerland have been released, it's likely that the additional 6 million doses announced today will add well over $100 million to the biotech's top line this year.
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Source Fool.com
