Moderna Rallies, But Here's Why Cramer Doesn't Trust Move Higher

Moderna reported positive results from the first human trial of its coronavirus vaccine candidate. Here's what Jim Cramer thinks it means for the markets.
Author:
Publish date:

Moderna said results from the first human trial of its experimental coronavirus vaccine were positive. 

The company said it would begin a phase 3 trial in July, earlier than it previously hoped.

Moderna said that it had gotten positive interim clinical results for mRNA-1273, its vaccine candidate against novel coronavirus, from the Phase 1 study led by the National Institute of Allergy and Infectious Diseases, which is part of the National Institutes of Health.

Each of the study's participants was given a 25 microgram, 100 mcg or 250 mcg dose, with 15 people in each dose group. The participants received two doses via intramuscular injection in the upper arm roughly 28 days apart.

“These interim Phase 1 data, while early, demonstrate that vaccination with mRNA-1273 elicits an immune response of the magnitude caused by natural infection starting with a dose as low as 25 µg,” Tal Zaks, the company's chief medical officer, said in a statement.

Zaks added that "when combined with the success in preventing viral replication in the lungs of a pre-clinical challenge model at a dose that elicited similar levels of neutralizing antibodies, these data substantiate our belief that mRNA-1273 has the potential to prevent COVID-19 disease and advance our ability to select a dose for pivotal trials.”

Jim Cramer weighed in on the vaccine candidate and whether or not this means that investors should buy Moderna.

Cramer said it's all a matter of risk and reward, but historically he doesn't trust the move higher in Moderna stock. 

You can follow Jim Cramer and Katherine Ross on Twitter at @JimCramer and @byKatherineRoss. Read more from Katherine Ross here.

Watch More of the Latest Videos on TheStreet and Jim Cramer