Moderna Inc. announced Monday an agreement with the Vaccine Alliance, Gave, to supply up to 500 million doses of its COVID-19 vaccine on behalf of the COVAX Facility. The agreement covers the 92 Gavi COVAX Advance Market Commitment for low- and middle-income countries. Moderna’s stock rose 2.3% in premarket trading. As part of the agreement, the first 34 million doses will be delivered in the fourth quarter of 2021. Also as part of the agreement, Gavi will retain the option to acquire an additional 466 million doses in 2022. “We recognize that many countries have limited resources to access COVID-19 vaccines,” said Moderna Chief Executive Stéphane Bancel. “We support COVAX’s mission to ensure broad, affordable and equitable access to COVID-19 vaccines and we remain committed to doing everything that we can to ending this ongoing pandemic with our mRNA COVID-19 vaccine.” Moderna’s stock has run up 71.2% year to date, while the S&P 500 has advanced 11.3%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
