Moderna Inc said on Monday its experimental COVID-19 vaccine showed promise in a small early-stage trial, with the vaccine producing virus-neutralizing antibodies similar to that found in recovered patients, sending shares soaring 25%.
The company’s vaccine is at the forefront of the efforts in developing a treatment for the fast-spreading virus and last week, won the U.S.
health agency’s “fast track” label to speed up the regulatory review. Moderna expects to start a larger late-stage trial in July.
There are currently no approved treatment or vaccine for COVID-19, caused by the new coronavirus, and experts predict a safe and effective vaccine could take 12-18 months to develop. [ Sign up for our Health IQ newsletter for the latest