Why Moderna Shares Surged 27% in June
Shares of Moderna (NASDAQ: MRNA) rose 27% in June, according to data from S&P Global Market Intelligence. Known for its highly effective COVID-19 mRNA vaccine, Moderna rose in tandem with the spread of the concerning delta variant across the world in June. The company also announced studies showing its vaccine was highly effective against that variant and others, and it locked up more supply agreements with the U.S. and other countries.
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Early in the month, Moderna secured a long-term supply agreement with UNICEF to sell the organization 34 million doses in the fourth quarter of 2021, along with up to 466 million doses in 2022. That was followed up by a purchase of 200 million doses, securing supply into the first quarter 2022, and then another 150 million doses purchased by the European Union, bringing its order commitment total to 460 million, including boosters for new variants in 2022.
Source Fool.com
