Moderna (NASDAQ:MRNA) was having a healthy Thursday on the market. The coronavirus vaccine stock was up by 1.5% in late afternoon trading following the announcement of a new company facility, and on the back of generally favorable developments in the fight against COVID-19.
Moderna said that it is investing in the facility, to be known as the Moderna Science Center and located near the company’s headquarters in Cambridge, Massachusetts. It described the Moderna Science Center as “a purpose-built space to support the Company’s next chapter of discovery,” as it furthers its research into mRNA-based products such as the mRNA-1273 coronavirus vaccine that’s in wide circulation.
Construction of the 462,000-square-foot facility has begun, the biotech added, and move-in is expected to begin in 2023. The company did not specify how much it was investing into the Center.
Meanwhile, Tuesday’s coronavirus vaccination news was positive, for the most part. The Los Angeles city council is considering an ordinance that would mandate customers of a wide range of businesses (gyms, movie theaters, etc.) show proof of vaccination for entry. This should coax vaccine holdouts in America’s third-largest city to finally get their jabs; perhaps it will lead to similar citywide mandates elsewhere.
Also, The New York Times is reporting that Asian countries are significantly ramping up their vaccination programs. While the Moderna vaccine isn’t as much of a go-to there as in Western nations, it is authorized for use in countries such as Singapore.
We are approaching the one-year anniversary of Moderna’s shot receiving its Emergency Use Authorization (EUA) from the FDA. The jab remains one of the most effective weapons in the war against the coronavirus. As long as COVID is spreading, the shot and its maker will remain relevant…and very much on the radar of investors.
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