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.
Community Interviews with Moose FM
Eight patients who were administered Moderna’s vaccine were found to have antibody levels similar to those in blood samples of people who have recovered from COVID-19, according to early results from the study conducted by the National Institutes of Health.
Story continues below advertisement
All 45 participants in the study were given three different doses of the vaccine and Moderna said it saw dose-dependent increase in immunogenicity,