Why Moderna Stock Rose Today
Shares of Moderna (NASDAQ: MRNA) climbed 4.7% on Wednesday after a rival drugmaker's COVID-19 vaccine trial was placed on hold due to safety concerns.
AstraZeneca (NYSE: AZN) paused its phase 3 clinical trial for its coronavirus vaccine candidate, labeled AZD1222, after a participant suffered an unexplained illness. An independent committee will review the safety data before the trial is allowed to resume. "We will be guided by this committee as to when the trials could restart, so that we can continue our work at the earliest opportunity to provide this vaccine broadly, equitably, and at no profit during this pandemic," AstraZeneca CEO Pascal Soriot said in a press release.
Moderna's stock rallied on Wednesday. Image source: Getty Images.
Source Fool.com
