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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Moderna, Inc.    MRNA

MODERNA, INC.

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Moderna eyes third quarter for first doses of potential COVID-19 vaccine with Catalent deal

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06/25/2020 | 12:35pm EDT
FILE PHOTO: Moderna Therapeutics seen during COVID-19 in Massachusetts

Moderna Inc said on Thursday it was partnering with contract drugmaker Catalent Inc to prepare an initial 100 million doses of its coronavirus vaccine for the United States, starting in the third quarter of this year.

Catalent will fill and package doses, support production and provide additional staffing for around-the-clock operations to produce the vaccine, which is still in clinical trials.

The vaccine, among the first to be tested in humans in the United States, was found to produce protective antibodies in a small group of healthy volunteers last month.

Moderna is preparing to begin the final stages of testing in July to evaluate the vaccine's effectiveness in preventing the respiratory illness in around 30,000 adult trial participants.

The company previously struck deals with the U.S. government for funds to ramp up manufacturing, and a 10-year collaboration with Swiss contract drugmaker Lonza Group, with the aim of 500 million doses a year and 1 billion doses beginning 2021.

Catalent will also provide other packaging and labeling, storage and distribution services at its facilities to support Moderna's late-stage vac
cine trial, which is expected to begin in July, Moderna said on Thursday. (https://reut.rs/384fCLt)

Drugmakers including Johnson & Johnson and AstraZeneca Plc have also signed agreements to boost manufacturing capacity for their experimental vaccines even before having adequate evidence of their efficacy.

There are no approved treatments or vaccines for COVID-19, with vaccines by other drugmakers including Johnson & Johnson, Sanofi and AstraZeneca Plc in various stages of development.

Both Moderna and Catalent are also in talks for producing hundreds of millions of additional doses, the vaccine developer said.

Israel in June signed an agreement with Moderna for the future purchase of its potential COVID-19 vaccine, without disclosing financial details.

(Reporting by Saumya Sibi Joseph in Bengaluru; Editing by Shailesh Kuber and Arun Koyyur)

Stocks mentioned in the article
ChangeLast1st jan.
ASTRAZENECA PLC 1.47% 8574 Delayed Quote.11.08%
CATALENT, INC. -3.07% 84.9 Delayed Quote.50.80%
LONZA GROUP 0.70% 550.6 Delayed Quote.54.81%
MODERNA, INC. -4.22% 68.97 Delayed Quote.252.61%
SANOFI -0.26% 87.4 Real-time Quote.-2.22%
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Financials (USD)
Sales 2020 330 M - -
Net income 2020 -542 M - -
Net cash 2020 2 553 M - -
P/E ratio 2020 -47,7x
Yield 2020 -
Capitalization 27 215 M 27 215 M -
EV / Sales 2020 74,8x
EV / Sales 2021 5,19x
Nbr of Employees 975
Free-Float 80,0%
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Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 92,53 $
Last Close Price 68,97 $
Spread / Highest target 94,3%
Spread / Average Target 34,2%
Spread / Lowest Target -13,0%
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Managers
NameTitle
Stéphane Bancel Chief Executive Officer & Director
Stephen Hoge President
Noubar B. Afeyan Chairman
David W. Meline Chief Financial Officer
Juan Andres Chief Technical Operations & Quality Officer
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