Markets

Moderna Plans to Produce 20 Million Doses of Its COVID-19 Vaccine Candidate in 2020

As the phase 3 clinical trial of Moderna's (NASDAQ: MRNA) COVID-19 vaccine candidate continues, the company on Friday said it expects to produce 20 million doses of it by the end of 2020.

The biotech company's candidate, mRNA-1273, uses messenger RNA to induce the body to create antibodies against the novel coronavirus, decreasing the chances that an inoculated person exposed to it will become infected. 

A person holding a vial containing a COVID-19 vaccine.

IMAGE SOURCE: GETTY IMAGES.

In August, management announced it was slowing enrollment in the late-stage study to allow for enrollment of a more diverse population, including younger people and people with other viruses, including hepatitis. 

Nevertheless, CEO Stephane Bancel still believes Moderna is on track to have gleaned enough data from the study to know by November whether or not mRNA-1273 is effective. 

The company has already signed an agreement to provide the U.S. government with up to 100 million doses of mRNA-1273 for $1.525 billion, assuming it wins approval. Similarly, Moderna has said it's in negotiations for a deal to supply the European Union with up to 160 million doses.

In total, Moderna's manufacturing investments have it targeting the capacity to produce up to 1 billion doses in 2021.

10 stocks we like better than Moderna INC
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*

David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Moderna INC wasn't one of them! That's right -- they think these 10 stocks are even better buys.

See the 10 stocks

 

*Stock Advisor returns as of August 1, 2020

 

Todd Campbell has no position in any of the stocks mentioned. His clients may have positions in the companies mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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

In This Story

MRNA

Latest Markets Videos

The Motley Fool

Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

Learn More