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Markets surge on vaccine hopes

Posted by Anton Murray Consulting on . Posted in Investment Banking News


Investors everywhere drew hope from the announcement of a potential vaccine – but they shouldn’t count their chickens before they’ve hatched. Biotech company Moderna has reported promising results in clinical trials of its mRNA-1273 vaccine against COVID-19, with subjects demonstrating similar levels of antibodies against the virus as those who have recovered from it. “When combined with the success in preventing viral replication in the lungs of a pre-clinical challenge model at a dose that elicited similar levels of neutralizing antibodies, these data substantiate our belief that mRNA-1273 has the potential to prevent COVID-19 disease and advance our ability to select a dose for pivotal trials,” said Dr Tal Zaks, chief medical officer at Moderna.

Also promising is the fact that subjects tolerated the vaccine well, with no serious adverse effects detected. Moderna is now moving “as fast as safely possible” to start its phase three study and is investing to scale up manufacturing to maximise the number of doses it can produce “to help protect as many people as (it) can from SARS-CoV-2”. The Dow surged 912 points as the news spread, while the S&P 500 rose by 3.2 per cent and the Nasdaq was up 2.4 per cent. The ASX was up 2.6 per cent in opening trade. Forecasts for the post-COVID world are often characterised by the lingering economic threats of both renewed lockdowns and social distancing measures. A vaccine could change all of that.

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