Magellan Midstream Partners LP
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Energy : Oil, Gas & Consumable Fuels | Mid Cap Value
Company profile

Magellan Midstream Partners, L.P. is principally engaged in the transportation, storage and distribution of refined petroleum products and crude oil. The Company operates through three segments: refined products, crude oil and marine storage. As of December 31, 2016, its asset portfolio, including the assets of its joint ventures, consisted of its refined products segment, consisting 9,700-mile refined products pipeline system with 53 terminals, as well as 26 independent terminals not connected to its pipeline system and its 1,100-mile ammonia pipeline system; its crude oil segment, consisted of approximately 2,200 miles of crude oil pipelines and storage facilities with an aggregate storage capacity of approximately 26 million barrels, of which 16 million are used for contract storage, and its marine storage segment, consisted of five marine terminals located along coastal waterways with an aggregate storage capacity of approximately 26 million barrels.

Closing Price
$44.53
Day's Change
-0.81 (-1.79%)
Bid
--
Ask
--
B/A Size
--
Day's High
45.57
Day's Low
44.35
Volume
(Light)
Volume:
780,123

10-day average volume:
1,009,619
780,123

Moderna coronavirus vaccine effort to get $483 million in federal funding

6:16 pm ET April 16, 2020 (MarketWatch)
Print

Moderna Inc. (MRNA) said late Thursday that it will receive up to $483 million from the U.S. government to accelerate development of a COVID-19 vaccine. Shares in Moderna rose 2% in the extended session. The Biomedical Advanced Research and Development Authority within the Department of Health and Human Services awarded the cash to accelerate the company's development of the mRNA-1273 vaccine candidate and fund it through U.S. Food and Drug Administration licensure. Moderna said that it plans to begin a Phase 2 study in the second quarter of 2020 and start Phase 3 testing as soon as the fall of 2020. The company said it plans to hire 150 new staff this year in the U.S. "By investing now in our manufacturing process scale-up to enable large scale production for pandemic response, we believe that we would be able to supply millions of doses per month in 2020 and with further investments, tens of millions per month in 2021, if the vaccine candidate is successful in the clinic," Moderna Chief Executive Stéphane Bancel said in a statement. The first patient in the Phase 1 trial received a dose of the vaccine candidate March 16.

-Max A. Cherney; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

April 16, 2020 18:16 ET (22:16 GMT)

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