Why Moderna Stock Jumped 10.7% Today

Shares of Moderna (NASDAQ: MRNA) rose more than 10% on Friday after the biotechnology company announced the commencement of its Phase 2 study for its novel coronavirus vaccine.

Moderna said the first participants in each age group of its Phase 2 study have received doses of its experimental COVID-19 vaccine, mRNA-1273. The study will evaluate the safety of mRNA-1273 and its ability to provoke an immune response in the human body. Participants will receive two vaccinations of mRNA-1273 spaced 28 days apart.

Moderna is seeking to enroll 600 healthy participants, including 300 people aged 18-55 and 300 people older than 55. Participants will receive either a 50 microgram dose, a 100 microgram dose, or a placebo. They will be monitored for 1 year after the second vaccination.

Source Fool.com