2020 was saved thanks to Pfizer Inc. PFE and Moderna Inc MRNA whose vaccines against COVID-19 helped us see the light at the end of the pandemic tunnel. But unlike Pfizer with its rich long history in vaccines, Moderna became a household name only after its mRNA-1273 became the second COVID-19 vaccine approved for emergency use. Its share price skyrocketed 434% and peaked even higher.
Impressive Financial Performance
300 milion doses for the U.S., 40 million for Canada, 50 million for Japan, 7 million for the UK and 160 million for the EU. These are just some of the supply deals that Moderna has made. These deals combined will more than consume the low end of its anticipated 2021 production range, which was recently increased to 600 million doses. However, Moderna continues to ramp up production with the goal to achieve the output of 1 billion doses of mRNA-1273 this year. Even if Moderna isn't able to boost its production, the biotech's first quarterly update for fiscal year 2021 will be widely celebrated, especially considering that this is a company that previously hasn't generated any product revenue.
Clinical Trial Updates
Moderna should have several key clinical trial updates in line this year. Back in November, it reported encouraging interim results from a phase 1 study evaluating a combination of personalized cancer vaccine mRNA-4157 and Merck & Co., Inc.'s MRK immunotherapy Keytruda that aims to treat head, neck cancer and colorectal cancer, with more data expected to follow this year. Interim results from a phase 2 study of mRNA-4157 and Keytruda in treating melanoma could also be delivered toward the end of this year. Later this year, interim results from a study that is evaluating mRNA-2416 in combination with AstraZeneca plc‘s AZN immunotherapy Imfinzi in treating solid tumors and ovarian cancer are also due this year. In addition, a phase 1 study of mRNA-2752 as a stand-alone therapy and in combination with Imfiniz targeting the treatment of several types of cancer should be finalized in July. But it is the cytomegalovirus vaccine candidate mRNA-1647 that is perhaps most eagerly anticipated as back in September, Moderna reported positive interim data from a phase 2 study of the experimental vaccine with plans to enter phase 3 this year.
A Growing Portfolio
Moderna is going to make a lot of money this year. Investors are looking forward to the company expanding the development pipeline as at its annual R&D day in September, CEO Stephane Bancel stated that the company plans to jump into the flu market, given the unmet need for highly effective vaccines. Moderna could also follow the footsteps of Novavax, Inc. NVAX in exploring the possibility of developing a combo COVID-19 and flu vaccine.
Outlook
Should other leading COVID-19 vaccine makers stumble, the entire market could be left to Moderna and Pfizer. But stumbling doesn't necessarily mean clinical failure as Moderna and Pfizer have established a high bar for efficacy that other vaccines simply might not be able to attain. Whatever 2021 holds, things look good for Moderna, with the potential to be even greater.
This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you're interested in becoming an IAM journalist contact: contributors@iamnewswire.com
The post Moderna Has Big Plans for 2021 appeared first on IAM Newswire.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
