Moderna Inc (NASDAQ: MRNA) stock price has fallen by 6.78%. This occurred after it has become known that Moderna started enrolling participants for its phase 2 clinical trials. This comes after many have raised ethical questions surrounding the sale of Moderna (MRNA) stock.
At the time of filing this report, Moderna (MRNA) stock price was $57.96. Just a quick reminder: ATH for MRNA stock was $80.
Many are questioning Moderna (MRNA) stock sales by Flagship Pioneering. Flagship Pioneering sold 1 million Moderna (MRNA) stock at $69.47. The sales happened on May 21st and 22nd. Moderna announced positive phase 1 results on May 18th. Sources say that the stock sales didn’t follow the automated 10b5-1 plans. Many company insiders often use those to provide cover against
Moderna (MRNA) Stock Price amid Phase 2 Trials Begin
Safety, adverse reactions, and immune responses are expected to be studied by Moderna in this phase of trials. Two shots will be given 28 days apart. The doses are expected to be either at 50 micrograms or 100 micrograms. The participants will be studied for the next year. Phase-1 results show increased levels in immunogenicity after dosages of 25micrograms to 100 micrograms. Moderna (MRNA) has said that it will not pursue dosages of 250g in the phase-2 due to the results.
The Director of the National Institutes of Allergy and Infectious Diseases (NIAID) Anthony Fauci has called the results promising. This comes as there are questions to be answered about the phase-1 results. Many have indicated that the data given is too sparse to provide valid conclusions as to its efficacy.
Others have questioned the sharing of the data by NIAID to peers for review. This is should normally be Mordena’s (MRNA) responsibility. As Moderna(MRNA) starts phase 2, the company has given indications that phase 3 could start in July. That is if everything goes well with phase-2.
The m-RNA 1273 vaccine candidate has FDA fast track approvals. This has also brought other issues by several critics. However, the counter-argument of getting a vaccine for the SARS CoV-2 virus rebuffs such issues.
Other Vaccine Competitors Heat Up the Race
Other competitors are entering into the vaccine race. Moderna and its business practices are bound to get under further scrutiny. This has given rise to questions that are surrounding the first phase-1 trial announcement.
Many are wondering if this will become a pattern for Moderna. Others aren’t still convinced that Moderna’s vaccine candidate will cut.
The role of the NIAID has also been under scrutiny. Many have argued that the National Institutes of Health (NIH) are meant to be impartial institutions in such matters. As a government entity, they are meant to steer clear of the drama and politics that comes with the business turf.
As things continue to unfold, a clear picture will emerge concerning Moderna (MRNA). For now, though, the biotech company is the undisputed leader in the vaccine race.
Read other coronavirus updates here.