Moderna CEO Weighs In On Omicron Variant: We Believe It's 'Already Present In Most Countries'

Global markets fell sharply Friday amid increasing fears about a new COVID-19 variant, omicron.

"I don't believe many people would have predicted such a big jump in evolution in one variant," Moderna Inc MRNA CEO Stéphane Bancel said Monday on CNBC's "Squawk Box."

Omicron has more than 30 mutations on the spike protein that binds to human cells, according to a World Health Organization report. The mutations suggest higher transmission rates and potentially reduced antibody protection.

The multiple spike protein mutations came as a surprise to the scientific community, Bancel said, adding that he believes the variant is "highly infectious."

"We also believe it is already present in most countries,” he said. “I believe that most countries that have direct flights from South Africa in the last seven to 10 days have already had cases in their countries that they might not be aware of."

See Also: Moderna May Have a New Vaccine For Omicron COVID Strain By Early 2022

Bancel told CNBC he won't know how effective the existing vaccines are against the omicron variant for another two weeks or so, but he warned it's "highly possible" that vaccine efficacy is falling.

He noted it will likely take months to develop a vaccine that targets the omicron variant specifically, but a higher dose of Moderna's booster vaccine could be ready much sooner.

The U.S. banned entry to non-citizens that have traveled from South Africa during the past 14 days. The U.K. and other countries have implemented similar travel restrictions. 

MRNA Price Action: Moderna has traded as high as $497.49 and as low as $98.65 over a 52-week period.

The stock was up 10.60% at $365.23 at time of publication.

Photo: mufidpwt from Pixabay.