Moderna COVID-19 Vaccine Candidate Positive... Dow Jones Index Up 3%

Moderna, "All 45 Participants in Phase 1 Clinical Trial Developed Antibodies"
Expecting Vaccine Success Following Remdesivir Treatment

[Image source=Reuters Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] Positive news has emerged regarding the clinical trial results of a COVID-19 vaccine candidate. As a result, the U.S. stock market is showing a significant rebound.

On the 18th (local time), according to CNBC and other broadcasts, the American biotech company Moderna announced that positive results showing antibody formation were observed in the Phase 1 clinical trial of their vaccine candidate.

According to the company's announcement, Moderna's COVID-19 vaccine candidate (mRNA-1273) induced antibody formation in all 45 participants in the clinical trial.

Moderna's Chief Medical Officer, Tal Zaks, stated, "Although the Phase 1 clinical trial results are preliminary, they demonstrate that 'mRNA-1273' at a 25㎍ dose elicits an immune response comparable to that generated by natural COVID-19 infection."

Moderna plans to begin a Phase 2 clinical trial soon with 600 participants, following approval from the U.S. Food and Drug Administration (FDA).

The Wall Street Journal (WSJ) also raised expectations for the COVID-19 vaccine. WSJ reported that over 100 COVID-19 vaccines are being developed worldwide, and clinical trials have started for eight vaccine candidates, including those from Moderna and the U.S. pharmaceutical company Pfizer.

Jerome Powell, Chair of the U.S. Federal Reserve (Fed), expressed concerns in an interview with CBS the day before that if a COVID-19 vaccine is not developed, economic recovery could be delayed until the end of next year. The U.S. government has also established a rapid development task force to accelerate vaccine development in collaboration with the private sector. President Donald Trump mentioned hopes for vaccine development within this year, sparking debate over its feasibility.

On this day, the New York stock market is experiencing a strong rebound driven by hope for a COVID-19 vaccine. As of 12 PM, the Dow Jones Industrial Average is up 3.48%, the S&P 500 index is up 3.07%, and the Nasdaq index is up 2.4%. Moderna's stock price surged 27% following the announcement of the vaccine candidate's results.