MIT professor's Moderna stake on brink of topping US$1b on coronavirus vaccine early results

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MIT professor's Moderna stake on brink of topping US$1b on coronavirus vaccine early results
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NEW YORK (BLOOMBERG) - Another early investor of Moderna Inc is on the cusp of owning a stake worth at least US$1 billion after the biotech firm reported encouraging early trial results for an experimental Covid-19 vaccine.. Read more at straitstimes.com.

NEW YORK - Another early investor of Moderna Inc is on the cusp of owning a stake worth at least US$1 billion after the biotech firm reported encouraging early trial results for an experimental Covid-19 vaccine.

The company priced a stock offering to fund manufacturing of its coronavirus vaccine at US$76 a share, 5 per cent below the last close, people familiar with the deal said after Monday's market trading. "The broader market reaction is a measure of the need people have to perceive that there's a scientific, technological solution to this kind of battle," Afeyan said in a phone interview."We've increased expectations, but that hasn't changed what we do."

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