Coronavirus Update: Moderna Wins Additional Funding From U.S.

Author:
Publish date:
Video Duration:
1:43

Good morning, it’s Monday, July 27. Here’s your daily coronavirus update.

There are 16.2 million cases of the virus worldwide, with over 648,000 deaths.

The U.S. has 4.2 million cases with over 146,000 deaths.

Confirmed cases in the U.S. from Saturday to Sunday rose by 65,965 in the latest daily count.

Deaths rose by 921, breaking a four-day streak of more than 1,000 a day in the U.S.

Moderna secured an additional $472 million from the U.S. government to support its efforts to develop a coronavirus vaccine.

The funds come from the Biomedical Advanced Research and Development Authority, would help bankroll the biotech company's late-stage clinical development, including its phase 3 clinical trial, of the potential vaccine.

An existing BARDA contract essentially had been modified after an earlier award from the authority for up to $483 million, bringing the total funding from the federal agency to about $955 million.

Moderna said that it would use the funds for its potential vaccine known as mRNA-1273, which is planned to undergo a "significantly larger" phase 3 clinical trial. Expanding that trial left a gap in needed funding.

With the revised contract, Moderna said it could now conduct a trial with 30,000 people in the U.S.

You can follow Katherine Ross on Twitter at @byKatherineRoss.

Read more from Katherine Ross here.

Watch More on the Coronavirus Pandemic From TheStreet.com:

Related Videos