Moderna (NASDAQ: MRNA) closed nearly 6.5% higher on Wednesday thanks to the results of an early-stage clinical study of its coronavirus candidate on older patients.
In the study, mRNA-1273 was found to produce the neutralizing antibodies that should immunize the body against the coronavirus. It also did so at levels comparable to those of younger patients who have received the vaccine, and without serious adverse effects.
News of mRNA-1273 has been consistently positive, with all clinical research so far indicating that it is efficacious. It's particularly encouraging that this seems to apply to older patients too, as they are considered to be especially vulnerable to the coronavirus, and more broadly because vaccines in general tend to be less effective in older people.
Moderna is considered by many pundits and analysts to be the leader in the race to develop a coronavirus vaccine, and this latest scrap of news will enhance its standing.
While Moderna's news is certainly heartening for investors, they should keep a few caveats in mind.
First, this was a very limited study of only 20 people, and its results have yet to be published in a peer-reviewed journal. Second, as a young biotech, the company has never brought a product to market. Finally, there is a long road from the late-stage testing mRNA-1273 is entering to approval, and there's no guarantee it will be proven sufficiently efficacious, let alone given the green light from regulators.
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.
*Stock Advisor returns as of August 1, 2020
Eric Volkman has no position in any of the stocks 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.