Moderna Stock Went Up Because It Is Joining Hands With the US to Make Shots to Fight Ebola and Other Threats
Moderna Stock (NASDAQ:MRNA)
On Wednesday, Moderna stock (NASDAQ:MRNA) increased after Bloomberg reported that the business and the United States Department of Defense is close to inking an agreement to create vaccines based on messenger RNA that target several biological threats, including the Ebola virus. As a result, Moderna stock surged this morning.
According to persons aware of the subject, the biotech company in Cambridge, Massachusetts, will cooperate with the University of Texas Medical Branch at Galveston to enhance the mRNA-based vaccination technology that it now has, as stipulated by the conditions of the contract.
One of the participants indicated that Modernas (NASDAQ:MRNA) vaccine targets not only the more frequent Zaire species but also the related Marburg virus, in addition to the Sudan ebolavirus, which does not have any therapies or vaccinations that have been proven effective.
Moderna did not provide a response to the requests for remarks that were made about the transaction. There is still a lack of clarity about the contracts monetary provisions.
An epidemic of the Sudan type of Ebola, one of the four known Ebola viruses that may cause hemorrhagic fever in humans, began in Uganda in September. As of right now, there have been 95 confirmed cases of infection.
In 2018, the University of Texas Medical Branch (UTMB), collaborating with Moderna and the National Institutes of Health (NIH) of the United States, produced two potential vaccines for Ebola. Even though the mRNA-based injections were influential during the pre-clinical stage, they were not further developed for use in clinical settings.
Reuters reported a week ago that the United States had supplied Uganda with the COVID-19 antiviral Remdesivir made by Gilead to combat the spread of the Ebola virus.
Featured Image- Unsplash @ Mufid Majnun
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