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Moderna takes in millions for experimental COVID-19 vaccine ahead of final trials

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Posted: Wednesday, August 5, 2020. 9:54 am CST.

By Aaron Humes: Moderna Incorporated’s experimental COVID-19 vaccine is leading the lucrative race to be first in production, approval and distribution, according to Reuters news agency.

The company said it had collected US$400 million in deposits for potential supply and was talking to several countries about agreements to supply the vaccine when approved.

First, as it announced last week, Moderna must pass a late-stage trial on 30,000 people to demonstrate that its vaccine is safe and effective, the final hurdle prior to regulatory approval. It has said the vaccine could be ready for widespread use by the end of this year against the pandemic that has claimed more than 700,000 lives worldwide.

The company, which ended the quarter with $3.1 billion in cash, cash equivalents and investments, said it was on track to complete enrollment in the study in September.

Moderna said last month it plans to price its vaccine in a way that ensures broad access and that it did not intend to conduct late-stage trials of the vaccine outside the United States.

The company, which has no drug on the market, has received nearly $1 billion from the U.S. government under a plan to speed up vaccine development.

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