[Featured Stock] Barunson E&A Rises on Investment in US Moderna's COVID-19 Vaccine Development Stake

[Asia Economy Reporter Minwoo Lee] Barunson E&A's stock price is on the rise. The news that its parent company Barunson invested in the U.S. pharmaceutical company Moderna, which is developing a novel coronavirus (COVID-19) vaccine, appears to have acted as a positive factor.

As of 10:03 AM on the 15th, Barunson E&A, an affiliate of Barunson, recorded a stock price of 1,910 KRW, up 20.5% from the previous day. The positive news seems to be that Moderna, in which Barunson has invested shares, reported favorable results in the early clinical trials of its COVID-19 vaccine. According to the medical journal The New England Journal of Medicine, Moderna achieved antibody formation in all 45 subjects involved in the early clinical trials of the COVID-19 vaccine.

Earlier, Barunson announced in March that it had purchased 21,000 shares of Moderna stock worth 786.35 million KRW.