Shares of Moderna Inc. (MRNA) gained 2.4% in premarket trading on Friday after the company announced a 10-year manufacturing deal with Lonza Group AG for its COVID-19 vaccine as well as its other vaccine candidates. The companies plan to set up manufacturing facilities in Switzerland, where Lonza is based, and the U.S., where they plan to make the first batch of the investigational vaccine by July. "The current pandemic illustrates the need to combine the best science with resilient supply chains that can scale," Lonza chairman Albert Baehny said in a statement. Moderna has conducted the Phase 1 trial of its COVID-19 vaccine; a Phase 2 study is expected to begin in the second quarter. There are no proven vaccines that prevent infections of the novel coronavirus. Year-to-date, Moderna's stock has soared 135.1%, while shares of Lonza have gained 19.8%. The S&P 500 is down 9.8%.
-Jaimy Lee; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
May 01, 2020 07:59 ET (11:59 GMT)
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