Novavax's latest progress in the Covid-19 vaccine development brings optimism to the Wall Street.
WELLINGTON, Fla., May 27, 2020 -- In a release issued under the same headline earlier today, Barbuto & Johansson, P.A. incorrectly made a typographical error in the.
The COVID-19 pandemic has kept biotech players all over the world on their toes for a vaccine. This new opportunity has made the sector the most attractive one to investors.
Moderna prodded a sell-off Wednesday among biotechs as investors digested a volunteer's account of systemic side effects tied to the company's experimental coronavirus vaccine.
Shares of Arcturus Therapeutics (NASDAQ: ARCT) were plunging 32.3% as of 11:43 a.m. EDT on Wednesday. Reports surfaced yesterday that one of the participants in Moderna's phase 1 study of its COVID-19 vaccine candidate experienced a severe reaction. STAT News' Matthew Herper reported on Tuesday that Ian Haydon developed a high fever after receiving a second dose of Moderna's experimental COVID-19 vaccine.
WELLINGTON, Fla., May 27, 2020 -- Barbuto & Johansson, P.A. (“BARJO”) and Of Counsel, Neil Rothstein, Esq. (with over 30 years of Securities Class Action experience,.
Moderna's stock has more than doubled this year, on the back of early positive data from its experimental vaccine, among the first to be tested in humans in the United States for the virus. Shares of the company fell as investors questioned the widely accepted timeline of 12 to 18 months for developing a vaccine for the new coronavirus, and also worried about a lack of granular data on the vaccines, analysts said. "We will certainly have doses (of coronavirus vaccines) by the end of the year, I just don't think we will have data to support widespread inoculation by then," Scott Gottlieb, former commissioner of the U.S. Food and Drug Administration, said on CNBC.
Moderna Inc (NASDAQ: MRNA) has been one of the hottest stocks of 2020 due to its coronavirus (COVID-19) vaccine candidate currently undergoing clinical trials.The stock has recently come under fire due to the large number of shares company insiders have been selling. In reality, many of these insider sales are not necessarily a bearish indicator for the stock, but one large sale reported Tuesday evening just might be.What Is A 10b5-1 Trading Plan?On May 18, Moderna announced positive data on its vaccine candidate and the stock skyrocketed. Within two days, the company's CEO, CFO and chief medical officer and general counsel sold more than 200,000 shares of stock.However, all 200,000 shares sold during that period were part of 10b5-1 trading plans. SEC Rule 10b5-1 allows company insiders to set up regularly-scheduled stock sales of predetermined numbers of shares on certain future dates. One of the advantages of 10b5-1 trading plans for executives is that it allows them to sell their shares over time without being accused of insider trading associated with events like positive trial data.In fact, Moderna's CEO actually sold a large chunk of stock just three days prior to the positive trial data thanks to the same 10b5-1 trading plan.Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.Why This One Is DifferentOn Tuesday, major Moderna investor Flagship Venture Fund IV reported it sold roughly 1 million shares of Moderna stock at prices ranging from between $65.76 and $72.43. Those shares were worth a combined $67.4 million. These sales took place on May 21 and May 22, within days of the positive trial data and were not part of a 10b5-1 trading plan.The silver lining for investors is that even the large insider sale for Flagship Venture Fund only represented about a 5% reduction of its stake in Moderna. The fund still holds about 19.27 million shares, according to OpenInsider.Benzinga's TakeWhile the Flagship sales reported Tuesday aren't necessarily a red flag by themselves, Moderna traders should keep monitoring insider trades in the coming weeks to watch for patterns outside of the typical 10b5-1 trading. Three of Moderna's vaccine trial candidates have reportedly experienced adverse reactions to the vaccine.See more from Benzinga * Moderna Short Sellers Take 0M Hit Following Coronavirus Vaccine Data * Biotech Stock Rally Is Crushing Short Sellers * Inovio Option Trader Bets 0K That Coronavirus Vaccine Stock Will Double Again By August(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The Zacks Analyst Blog Highlights: Novavax, Moderna, Pfizer, Gilead and Vir Biotechnology
LOS ANGELES, CA / ACCESSWIRE / May 27, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Moderna, Inc. ("Moderna" or "the Company") (NASDAQ:MRNA) for violations of the securities laws. The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
Out of all the coronavirus vaccine makers on the market, why did Dr. Anthony Fauci call out Moderna?
NEW ORLEANS, May 27, 2020 -- Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), is investigating.
Shares of Moderna (NASDAQ: MRNA) plunged on Wednesday, following reports that several of the participants in its novel coronavirus vaccine trial suffered an adverse reaction to its experimental drug mRNA-1273. Moderna's stock surged 20% on May 18 after it shared positive results from its phase 1 study for its COVID-19 vaccine candidate mRNA-1273. Since that day, Moderna's stock has shed more than a third of its value, as analysts questioned both the timing of the stock sale and whether the preliminary data justified the price at which shares were sold.
CordenPharma, a full-service Contract Development & Manufacturing Organization (CDMO) for the supply of APIs, Drug Products & Pharmaceutical Packaging, announces the signing of an amendment to their existing manufacturing agreement with Moderna, Inc. (Nasdaq: MRNA), a clinical stage biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines to create a new generation of transformative medicines for patients. The extension enables CordenPharma to manufacture large-scale volumes of Moderna's lipid excipients to be used in the manufacture of Moderna's vaccine candidate (mRNA-1273) against the novel coronavirus (SARS-CoV-2).
Company insiders allegedly sold over $80 million of Moderna shares prior to the stock’s recent drop. LOS ANGELES, May 27, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Moderna, Inc. ("Moderna") (MRNA) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors. Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, including eligibility for appointment as a Lead Plaintiff.
The company on Thursday signed an agreement with Swiss firm CordenPharma for the supply of large-scale volumes of lipid excipients used to produce its vaccine candidate. Moderna said last week that its vaccine candidate, the first to be tested in the United States, produced protective antibodies in a small group of healthy volunteers, offering a glimmer of hope for a vaccine among the most advanced in development. "This expansion will increase supply of lipid excipients used to manufacture our mRNA products," Moderna's chief technical operations and quality officer, Juan Andres, said.
The Law Offices of Frank R. Cruz continues its investigation on behalf of Moderna, Inc. (“Moderna” or the “Company”) (NASDAQ: MRNA) investors concerning the Company and its officers’ possible violations of federal securities laws. On May 18, 2020, Moderna issued a press release to announce, "positive interim clinical data of mRNA-1273, its vaccine candidate against novel coronavirus," from a Phase 1 study. Specifically, the Company reported that "dose dependent increases in immunogenicity were seen across the three dose levels, and between prime and boost within the 25 µg and 100 µg dose levels."
Consumer Confidence rose for the first time since February, reflecting Americans' optimism as the economy reopens.
The health care industry has been rallying so far this year on constant testing and COVID-19 vaccine trials.