AstraZeneca (AZN) - Get Report shares on Wednesday were higher after a report said a medical journal would be releasing positive news regarding the coronavirus vaccine the biopharma giant is developing with the University of Oxford.
American depositary receipts of the Cambridge, U.K., company at last check were 4.9% to $56.61.
Results from early tests of the vaccine will be published by the medical journal The Lancet, possibly on Thursday, according to a report on British television channel ITV's website.
The vaccine is apparently generating the kind of antibody and T-cell (killer cell) response that the researchers would hope to see, the report said, citing sources.
Moderna said the Phase I trial of MRNA-1273, its coronavirus vaccine candidate, induced antibody reactions in all 45 patient participants, with no serious side effects, following two injections over four weeks.
Last month, AstraZeneca said it was boosting its manufacturing capacity of a potential covid-19 vaccine to 2 billion doses ahead of the results of clinical trials later this summer.
The company also reached an agreement with Europe’s Inclusive Vaccines Alliance to supply European nations with as many as 400 million doses of a covid-19 vaccine - if the vaccine under consideration proves safe and effective.
About 160 coronavirus vaccines are in various stages of development around the world, according to the World Health Organization.
The Oxford vaccine has already begun final-stage testing. AstraZeneca has said it may begin delivering doses of the vaccine as early as September.