News World Moderna's COVID-19 vaccine shows promise in early study, shares soar

Moderna’s COVID-19 vaccine shows promise in early study, shares soar

Moderna Inc said on Monday its experimental COVID-19 vaccine showed promise in a small early-stage trial, with the vaccine producing virus-neutralizing antibodies similar to that found in recovered patients, sending shares soaring 25%.

The company’s vaccine is at the forefront of the efforts in developing a treatment for the fast-spreading virus and last week, won the U.S. health agency’s “fast track” label to speed up the regulatory review. Moderna expects to start a larger late-stage trial in July.

There are currently no approved treatment or vaccine for COVID-19, caused by the new coronavirus, and experts predict a safe and effective vaccine could take 12-18 months to develop.

Eight patients who were administered Moderna’s vaccine were found to have antibody levels similar to those in blood samples of people who have recovered from COVID-19, according to early results from the study conducted by the National Institutes of Health.

All 45 participants in the study were given three different doses of the vaccine and Moderna said it saw dose-dependent increase in immunogenicity, the ability to provoke an immune response in the body.

“We are investing to scale up manufacturing so we can maximize the number of doses we can produce to help protect as many people as we can from SARS-CoV-2,” Moderna Chief Executive Officer Stéphane Bancel said.

The company has signed deals with Swiss contract drugmaker Lonza Group AG and the U.S. government to produce massive quantities of its vaccine.

The vaccine, mRNA-1273, was also found to be generally safe and well tolerated in the early-stage study, the drug developer said.

One person in the trial experienced redness around the injection site, which was characterized as a “grade 3” side effect. No serious side effects had been reported, the company said.

Moderna shares have risen 240% in the year through Friday’s close.

(Reuters)

Top Stories

Anastasiades unveils new package to boost economy

  President Nicos Anastasiades on Wednesday announced a new package of 10 measures to help the economy through the coronavirus crisis that includes liquidity, guarantees...

NPLs in the Cyprus banking system decline below €9 billion

Non-performing loans (NPLs) in the Cypriot banking system declined to €8.97 billion in the end of 2019, with the NPL rate amounting to 27.9%...

Prodromou says no intention to discriminate against disabled pupils, asks parents to work with experts on solutions

Education Minister Prodromos Prodromou addressed anew on Wednesday the backlash that followed an announcement on May 20 that children with disabilities were not to...

No new Covid-19 cases on Wednesday

  There were no new Covid-19 cases in Cyprus on Wednesday the Health Ministry said, only the second time of zero cases since the start...

Paphos most booked holiday destination for Britons in April, May 2021

  Paphos is the most booked destination for British holidaymakers in April and May next year, the Daily Mail reported on Wednesday citing data collected...

Taste

Traditional salads that will blow your mind away

This traditional salads will make you actually love salads! Cyprus may be famous for souvla and kleftiko but if you try the traditional salads with...

Honey Balls

As you stroll down Onasagorou street in the old city of Nicosia and suddenly feel the need for something sweet, follow the smell of...

Octopus with Oregano

Ingredients: (Serves 4) 1 kg octopus ½ tsp dry oregano Pepper 3 tbsp olive oil 2 tbsp vinegar or lemon juice Preparation: Clean the octopus thoroughly under cold running water. Place the octopus...

Fish meatballs

In a bowl, mix the finely chopped onion and parsley. Boil the fish, cut into small pieces and add to the bowl. Add salt...