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Moderna Covid Vaccine Cleared by Canada Health Officials

Moderna's covid vaccine was cleared by Canada health officials. Earlier this month, Ottawa approved Pfizer's vaccine.

Moderna  (MRNA) - Get Moderna, Inc. Report shares rose Wednesday after Canada authorized the use of its coronavirus vaccine to curb the surge in the second wave.

Canada has recorded a total of 521,509 cases of coronavirus disease and 14,425 deaths.

"After a thorough, independent review of the evidence, [Health Canada] has determined that the Moderna vaccine meets the department's stringent safety, efficacy and quality requirements," the federal health ministry said in a statement.

Canada is now the second country to authorize Moderna's vaccine after the U.S.

The Cambridge, Mass., drugmaker's total order for vaccines from Canada stands at 40 million doses.

The Canadian vaccine supply will be sourced from Moderna’s European production capacity, with its strategic manufacturing partner Lonza in Switzerland, and ROVI in Spain for fill-finish services, the company had said.

Last week, Moderna, which reported a 100% efficacy rate against severe forms of covid-19, received U.S. Food and Drug Administration emergency-use authorization for its vaccine against the coronavirus.

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Moderna's vaccine needs to be stored and shipped frozen, but it does not require the ultra-cold temperatures required for the shot Pfizer  (PFE) - Get Pfizer Inc. Report developed with German partner BioNTech  (BNTX) - Get BioNTech SE Report.

In December, Moderna added four million more doses to its covid-19 vaccine sent to Israel, on top of two million already supplied, according to a company statement.

Moderna also filed for marketing clearance from European health authorities for its coronavirus vaccine.

Infectious-disease expert Anthony Fauci on Tuesday received the first dose of Moderna's MRNA coronavirus vaccine, on live television at the National Institutes of Health Clinical Center in Bethesda, Md.

Vaccinations in the U.S. began Dec. 14 with health-care workers, and so far 1.01 million doses have been administered, according to a state-by-state tally by Bloomberg. 

Moderna's stock at last check rose 3.1% to $129.82.