Moderna Inc.’s market value has swelled by almost $24 billion this year on optimism that the biotech’s experimental messenger-RNA vaccine will play a part in tamping down the coronavirus pandemic.The company is expected to have an interim early look this month at how effective its shot, mRNA-1273, is at preventing Covid-19.
Results on Monday from Pfizer Inc. and BioNTech SE’s vaccine offered both boon and bane to Moderna. The shot set a high bar as a first look at their late-stage study showed more than 90% effectiveness is preventing symptomatic infections.
At the same time, vaccine similarities bode well for Moderna.Investors should expect more stock swings for Moderna, which has surged more than 280% this year.