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Moderna Inc. (NASDAQ: MRNA) stock declines during current market. Let’s figure out why?

PTK Stock

PTK Stock

Moderna Inc. (NASDAQ: MRNA) stock falls by 5.31% in the current market trading after MRNA has announced its financial results for Q1 2021. Moderna is developing a new class of groundbreaking medicines for patients based on messenger RNA (mRNA) chemistry. mRNA medicines are engineered to guide the body’s cells to manufacture intracellular, membrane, or secreted proteins that can be used to treat or avoid a variety of diseases.

Financial Highlights

mRNA has released its first-quarter 2021 financial highlights. Given below is the summary:

Significant Development

MRNA declared today a new supply deal with the Swiss Federal Government for 7 million booster vaccine doses in 2022, with an option for a further 7 million doses in the second half of 2022 or the first quarter of 2023. The booster vaccine candidate must be approved by the FDA before it can be purchased under this arrangement. The news comes in the wake of two previous deals between Switzerland and Moderna to provide 13.5 million doses of the COVID-19 Vaccine Moderna. On January 12, 2021, Swissmedic, the Swiss Agency for Therapeutic Products, approved the COVID-19 Vaccine Moderna in Switzerland.

 

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