Why Moderna Stock Is Spiking Today

Moderna (NASDAQ: MRNA), a clinical-stage vaccine developer, saw its shares jump by as much as 17.8% in pre-market trading Monday morning. The biotech's stock is ripping higher today in response to the overwhelmingly positive late-stage trial results for its COVID-19 vaccine candidate, mRNA-1273.

According to an analysis by an independent, NIH-appointed data safety monitoring board, the vaccine met the pre-specified statistical criteria for efficacy in a large phase 3 trial known as COVE. The vaccine's efficacy came in at a stunning 94.5%. Moderna also noted that the vaccine was generally well tolerated in the trial, with the majority of adverse events being mild to moderate in severity.

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Source Fool.com