Moderna (MRNA) - Get Report shares slipped Monday after the biotech said in a regulatory filing that Chief Executive Stephan Bancel told Goldman Sachs on Friday that its potential coronavirus drug, mRNA-1273, could be available to emergency workers by this fall.
Moderna said in its filing that during Bancel’s interview with Goldman, he “indicated that while a commercially available vaccine is not likely to be available for at least 12 to 18 months, it is possible that under emergency use, a vaccine could be available to some people, possibly including healthcare professionals, in the fall of 2020.”
Bancel also "confirmed that the company is scaling up manufacturing capacity toward the production of millions of doses per month, in the potential form of individual or multidose vials,” the company said.
Moderna, Cambridge, Mass., is developing the vaccine in cooperation with the National Institute of Allergy and Infectious Diseases. Testing in humans began earlier this month.
“As has previously been disclosed, the ability of the company to make millions of doses per month is contingent on investments in the scale-up and further buildout of the company’s existing manufacturing infrastructure,” the Moderna filing said.
In addition to Bancel’s interview with Goldman Sachs, CBS’s "60 Minutes" on Sunday broadcast an interview with Moderna President Stephen Hoge, in which the executive discussed the mRNA-1273 drug.
“Ultimately what we really need to focus on is generating the clinical data that shows that the vaccine, in fact, does have a benefit, that it's safe and effective," he said.
At last check, Moderna stock traded at $27.64, down 2%.