Exxon Mobil Corp
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Energy : Oil, Gas & Consumable Fuels | Large Cap Value
Company profile

Exxon Mobil Corporation is engaged in energy business. The Company is engaged in the exploration, production, transportation and sale of crude oil and natural gas, and the manufacture, transportation and sale of petroleum products. The Company also manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and a range of specialty products. The Company's segments include Upstream, Downstream, Chemical, and Corporate and Financing. The Upstream segment operates to explore for and produce crude oil and natural gas. The Downstream operates to manufacture and sell petroleum products. The Chemical segment operates to manufacture and sell petrochemicals. The Company has exploration and development activities in projects located in the United States, Canada/South America, Europe, Africa, Asia and Australia/Oceania.

Price
Delayed
$45.80
Day's Change
1.20 (2.68%)
Bid
--
Ask
--
B/A Size
--
Day's High
45.85
Day's Low
45.47
Volume
(Heavy Day)

Today's volume of 3,018,844 shares is on pace to be much greater than XOM's 10-day average volume of 23,353,446 shares.

3,018,844

AstraZeneca made a bet on Moderna back in 2013. Here's what it's worth now

12:30 pm ET May 20, 2020 (MarketWatch)
Print

By Lina Saigol and Callum Keown

When AstraZeneca CEO Pascal Soriot made a bet on a little-known Massachusetts-based biotech company back in 2013, he couldn't have predicted the astonishing success of the investment.

Seven years later, the British drugmaker (AZN.LN) is sitting on a stake worth more than $2 billion in Moderna Thereapeutics, which on Monday reported encouraging early trial results for an experimental Covid-19 vaccine.

Soriot made the $240 million investment (https://www.astrazeneca.com/media-centre/press-releases/2013/astrazeneca-moderna-therapeutics-cardiometabolic-diseases-cancer-treatment-21032013.html#!) in Cambridge-headquartered Moderna (MRNA) to gain access to the startup's know-how in manipulating RNA, or ribonucleic acid, which helps create proteins inside cells.

The agreement gave AstraZeneca exclusive rights for five years to choose as many as 40 drugs for development. On top of the initial $240 million, Moderna was also entitled to $180 million for achieving certain technical milestones and to payments as well as royalties on drugs developed by AstraZeneca.

Read:Everything you need to know about the Oxford University vaccine and other efforts to beat coronavirus (http://www.marketwatch.com/story/everything-you-need-to-know-about-the-oxford-university-vaccine-and-other-efforts-to-beat-coronavirus-2020-05-14)

At the time, it was one of the largest ever initial payments in a pharmaceutical industry licensing deal that didn't involve a drug already being tested in clinical trials.

In 2016, AstraZeneca invested another $140 million (http://www.marketwatch.com/story/astrazeneca-raises-stake-in-moderna-therpeutics-2016-08-10)in Moderna, giving it a 9% stake in the Cambridge, Mass. -based company.

Shares in Moderna, which have soared 270% so far this year according to data from FactSet, closed at a record high of $80 a share on Monday, valuing the company at almost $30 billion.

Moderna was the first to test an experimental vaccine for the coronavirus, called mRNA-1273, in people. Early data from the vaccine showed that it produced protective antibodies in a small group of healthy volunteers. Phase two trials are set to begin shortly, and phase three trials are expected to start in July.

Shares in Moderna slipped 2.8% in after-hours trading Monday after the company said (http://www.marketwatch.com/story/moderna-plans-to-sell-more-than-1-billion-in-fresh-stock-after-covid-19-vaccine-study-success-2020-05-18)it plans to sell $1.25 billion worth of stock, (http://www.marketwatch.com/story/moderna-plans-to-sell-more-than-1-billion-in-fresh-stock-after-covid-19-vaccine-study-success-2020-05-18)the proceeds of which will be used to fund the manufacturing and distribution of the Covid-19 vaccine. The stock was up 1.53% on Wednesday.

AstraZeneca, which now holds a 7.7% stake in Moderna, is still sitting on a large paper fortune, and the FTSE 100 pharmaceuticals giant itself is now valued at just over $71 billion, making it worth more than oil major Royal Dutch Shell (RDSA.LN).

The U.K. drugmaker is also part of a project with the University of Oxford (http://www.marketwatch.com/story/astrazeneca-teams-up-with-oxford-university-to-develop-coronavirus-vaccine-first-results-from-human-trials-expected-in-june-or-july-2020-04-30) to develop and manufacture a vaccine for coronavirus--and data from testing could be available as early as mid-June or July.

-Lina Saigol; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

May 20, 2020 12:30 ET (16:30 GMT)

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