Moderna is one of hundreds of companies seeking an effective vaccine. In May, the Cambridge, Mass., company said results from its Phase I study were positive.
The Phase II "placebo-controlled dose-confirmation study is evaluating the safety, reactogenicity and immunogenicity of two vaccinations of mRNA-1273 given 28 days apart," the company said in a statement. "Each participant is receiving placebo … at both vaccinations.”
As for Phase III, Moderna has finalized the "study protocol based on feedback from the Food and Drug Administration,” it said. The trial is expected to include some 30,000 participants.
“The company remains on track to be able to deliver approximately 500 million doses per year, and possibly up to 1 billion doses per year, beginning in 2021 from the company’s internal U.S. manufacturing site and strategic collaboration with Lonza,” Moderna said.
It also recently announced a collaboration with Catalent for large-scale, commercial fill-finish manufacturing of mRNA-1273 at Catalent’s biologics facility in Indiana.
Goldman Sachs analyst Salveen Richter raised her price target on the company by two-thirds, to $105 from $63, after the “encouraging" vaccine data in May.
She affirmed her buy rating and raised the probability of success for the mRNA-1273 vaccine programs to 75% from 70%.
Moderna shares recently traded at $61.31, up 0.4%. The stock has almost quadrupled during the past three months amid enthusiasm about the vaccine .