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Why Moderna Stock Jumped Today

TheMotleyFool

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Why Moderna Stock Jumped TodayPhoto, wide shot, wide-angle lens, Biotech company, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Sebastião Salgado: https://img.theapi.app/temp/80e18bfd-1ff8-4487-af62-1cdb7de1ceb6.png

Shares of Moderna (NASDAQ: MRNA) climbed on Monday, following news that the biotech company had begun its phase 3 study of its COVID-19 vaccine candidate and received additional funding from the U.S. government.

By the close of trading, Moderna's stock price was up more than 9%.

Moderna disclosed on Sunday that the Biomedical Advanced Research and Development Authority (BARDA) would provide it with up to $472 million in additional funding to further the development of its experimental COVID-19 vaccine, mRNA-1273. Combined with BARDA's previous commitment for $483 million, Moderna has now been awarded a total of $955 million in U.S. government funding.

Source Fool.com

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