Stocks

Moderna CEO: Health Care Workers Could Get Vaccine by Fall

CEO Stéphane Bancel also said Moderna was scaling up its manufacturing capacity so it will be able to make millions of doses of the coronavirus vaccine a month.

CEO Stéphane Bancel also said the company was scaling up its manufacturing capacity so it will be able to make millions of doses of the vaccine a month.

The biotech firm Moderna, which is testing a vaccine to prevent Covid-19, now says it’s “possible” that a vaccine could be made available to health care workers this fall.

Moderna (ticker: MRNA) is developing the vaccine with the National Institute of Allergy and Infectious Diseases, which is currently running a Phase 1 study of the vaccine in 45 healthy adults. Moderna announced March 16 that the first patient in the Phase 1 study had been dosed, and that it was preparing doses for a Phase 2 trial.

In a Securities and Exchange Commission filing on Monday, Moderna disclosed that its CEO, Stéphane Bancel, told Goldman Sachs (GS) representatives on Friday that while no vaccine will be commercially available for Covid-19 for 12 to 18 months, a vaccine could be made available to certain people, including medical professionals, in the fall of this year on an emergency basis.

Bancel also told Goldman Sachs that Moderna was scaling up its manufacturing capacity so it will be able to make millions of doses of the vaccine a month.

Moderna is one of a handful of companies developing vaccines to prevent Covid-19 using messenger RNA technology. Its program was among the earliest to receive widespread attention. Shares of Moderna are up 41.8% so far this year, though they had fallen 1.7% midday Monday amid a broader selloff that sent the S&P 500 down 3.3% and the Dow Jones Industrial Average down 3.4%.

Other companies developing mRNA-based Covid-19 vaccines include BioNtech (BNTX) and CureVac, a privately held German firm.

Write to Josh Nathan-Kazis at josh.nathan-kazis@barrons.com

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Markets Videos

Barron's

Barron's is a leading source of financial news, providing in-depth analysis and commentary on stocks, investments and how markets are moving across the world.

Learn More