Moderna says initial COVID-19 vaccine results are positive

Market summary

The Maltese market closed in the green on Monday, with the MSE total index ending the session 0.399% higher to 8,201.926 points. The best performer was Malta International Airport plc with a 2.04% increase to close at 2.04, followed by a 1.52% jump of RS2 Software plc and a 1.08 gain of PG plc with closing price of 2.00 and 1.87 respectively. None of the stocks had negative performance, while Simonds Farsons Cisk plc and International Hotel Investments were active but closed unchanged.

European stocks rallied at the start of the week as Germany and France moved to organise a Europe-wide response to the pandemic and after the head of the US Central bank sounded a warily confident note on the outlook. By the end of trading, the benchmark Stoxx 600 was ahead by 5.16% at 341.59, alongside a jump of 5.67% to 11,058.87 for the German Dax while France's Cac-40 was up by 5.16% to 4,498.34.

U.S stocks booked sharp gains Monday, erasing May losses, on optimism that the American economy might be percolating again, while the medical community works toward a potential COVID-19 vaccine. The Dow Jones Industrial Average surged 3.9%, to finish at 24,597.37. The S&P 500 rose 3.2%, to end at 2,953.91. The Nasdaq Composite added 2.4%, closing at 9,234.83.

Experimental coronavirus vaccine induced immune responses in volunteers, raising hopes that a weapon to slow the pandemic could be on the horizon

Moderna Inc's experimental COVID-19 vaccine, the first to be tested in the United States, produced protective antibodies in a small group of healthy volunteers, according to very early data released by the biotech company on Monday.

The data comes from eight people who took part in a 45-subject safety trial that kicked off in March. The Moderna vaccine is one of more than 100 under development intended to protect against the novel coronavirus that has infected more than 4.7 million people globally and killed over 317,000.

Overall, the study showed the vaccine was safe and all study participants produced antibodies against the virus.

An analysis of the response in the eight individuals showed that those who received a 100 microgram dose and people who received a 25 microgram dose had levels of protective antibodies to fend of the virus that exceeded those found in the blood of people who recovered from COVID-19, the illness caused by the coronavirus.

The news, issued in a release by the U.S. biotechnology company, lifted shares of Moderna by 20%.

 

This article was issued by Nadiia Grech, Junior Trader at Calamatta Cuschieri. For more information visit, www.cc.com.mt. The information, view and opinions provided in this article are being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Calamatta Cuschieri Investment Services Ltd has not verified and consequently neither warrants the accuracy nor the veracity of any information, views or opinions appearing on this website.

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