Covid-19 vaccine results boost stocks

psei breaks 6000

Vaccine results boost stocks as US biotechnology firm Moderna test positive initial results of the coronavirus disease 2019 (Covid-19) drug.

US biotech firm Moderna said yesterday that its vaccine for COVID-19 appeared to generate an immune response similar to the response seen in people who have been infected by the virus and recovered.

Moderna’s chief medical officer Tal Zaks said: “Interim Phase 1 data, while early, demonstrate that vaccination with mRNA-1273 elicits an immune response of the magnitude caused by natural infection starting with a dose as low as 25 μg.”

“The vaccine was generally safe and well tolerated,” Moderna said.

“When combined with the success in preventing viral replication in the lungs of a pre-clinical challenge model at a dose that elicited similar levels of neutralising antibodies, these data substantiate our belief that mRNA-1273 has the potential to prevent COVID-19 disease and advance our ability to select a dose for pivotal trials,” Zaks added.

The company informed that the Phase-2 trial has already been given the go-ahead by the US Food and Drug Administration(FDA). Moderna said that phase 3 trials with a large number of volunteers would begin in July.  More..

After a two-day slide, the Philippine Stock Exchange index (PSEi) recovered and rose by 1.40 percent, or 76.50 points, to 5,555.85 points. 
All Shares increased by 1.03 percent, or 34.32 points, to 3,359.82 points. 
Holding firm counter jumped the highest at 2.26 percent, and was trailed by the Services, 1.65 percent; Financials, 1.23 percent; Property, 0.42 percent, and Industrial, 0.03 percent. 
More than 600.646-mil shares valued at P4.045-bil, changed hands. Market breadth was positive as advancers outnumbered decliners, 90 to 80 and 44 issues were unchanged.
Any developments to combat COVID-19 would trigger hopes in the market, as the pandemic remains to be the core problem hindering the economy to operate at its full productive capacity.

Related : The Coronaconomy Batte ;Philippines 7th best countries to invest in post COVID-19 ; Emerging Markets VS Coronaconomy

Updated: May 20, 2020, StockBytes! PH

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