Drugmaker Moderna (MRNA) - Get Report said on Monday it had completed the shipment of the first 100 million doses of its coronavirus vaccine to the U.S. government. It also said it was on track to deliver a second batch of 100 million doses by the end of May, and a third batch by the end of July.
Shares of the Cambridge, Mass. biotech were falling 5.4% to $126.04 on Monday morning.
The U.S. government is expecting a total of 300 million doses of the two-shot coronavirus vaccine from Moderna. That’s on top of 300 million doses from Pfizer (PFE) - Get Report and 200 million doses from Johnson & Johnson (JNJ) - Get Report.
Last week, the White House had said it expects to have 240 million shots available to inoculate U.S. citizens starting on March 29. Those doses would be enough to fully inoculate 130 million people. So far, 143 million doses of the coronavirus vaccine have been administered in the U.S.
J&J is expected to deliver at least 11 million doses this week, putting the New Brunswick, N.J., health-care giant on track to hit its mark of 20 million doses by the end of March.
Moderna said it had increased its shipments to the federal government fivefold from roughly 16 million doses in the fourth quarter of 2020 to 88 million doses to date.
More than 67 million doses of the Moderna COVID-19 vaccine have been administered in the U.S. so far, according to data from the U.S. Centers for Disease Control and Prevention.
Moderna's COVID-19 vaccine received emergency use authorization from the Food and Drug Administration on Dec. 18, 2020, and the company started supplying the federal government shortly thereafter.
On Mar. 16 Moderna said it had begun dosing participants in a trial of its COVID-19 vaccine in children ages 6 months to under 12 years old.