Could AstraZeneca Be a Millionaire-Maker Stock?
Clinical-stage biotech companies have hogged the limelight since the earliest days of the coronavirus vaccine race. Moderna (NASDAQ: MRNA), for example, grabbed everyone's attention when its vaccine candidate became the first to enter human trials in March. And then, a month later, a big pharma company made an important move -- one that launched it center stage.
On April 30, AstraZeneca (NYSE: AZN) announced its collaboration with the University of Oxford on the development and distribution of a vaccine candidate for COVID-19, the illness caused by the novel coronavirus. Researchers at Oxford had already been working on the potential vaccine and moved it into human testing when the partnership began. Now, some investors are wondering if AstraZeneca's position in the vaccine race may result in the triple-digit gains enjoyed by other biotech stocks this year -- like Moderna's 279% increase -- and possibly render AstraZeneca a millionaire-maker stock. Let's take a closer look.
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