Jim Cramer on Moderna Coronavirus Vaccine: 'I Think Phase 3 Is Coming'

Author:
Publish date:
Video Duration:
1:11

Moderna  (MRNA) - Get Report received emergency Food and Drug Administration approval to proceed with phase 2 clinical trials of a vaccine candidate to fight COVID-19.

In its quarterly earnings release, Moderna said the FDA had completed its review of its Investigational New Drug (IND) application for its novel coronavirus vaccine candidate, and has approved allowing it to proceed to a Phase 2 study, expected to begin shortly.

“The imminent Phase 2 study start is a crucial step forward as we continue to advance the clinical development of mRNA-1273, our vaccine candidate against SARS-CoV-2,” Moderna CEO Stephane Bancel said in a statement “With the goal of starting the mRNA-1273 pivotal Phase 3 study early this summer, Moderna is now preparing to potentially have its first BLA approved as soon as 2021.”

Moderna is known for its work in vaccines that treat and prevent other types of infectious diseases, including the flu.

Jim Cramer weighs in on whether or not this is a stock for investors to watch closely as various companies race for a vaccine against the coronavirus.

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 from TheStreet and Jim Cramer