A sign marks the headquarters of Moderna Therapeutics, which is developing a vaccine against the coronavirus disease (COVID-19), in Cambridge, Massachusetts, U.S., May 18, 2020. REUTERS/Brian Snyder
May 19, 2020
(Reuters) – Data from a small, early-stage safety trial testing Moderna Inc’s <MRNA.O> experimental COVID-19 vaccine does not provide critical data to assess its effectiveness, Stat News reported on Tuesday, citing experts.
The health news publication’s report https://bit.ly/36kKerh pulled down shares of the Cambridge, Massachusetts-based biotech and erased modest gains on the benchmark S&P 500 index <.SPX>.
Moderna said on Monday the vaccine candidate, the first to be tested in the United States, produced protective antibodies in a small group of healthy volunteers.
The news based on data from eight people who took part in a 45-subject safety trial sent the company’s shares up nearly 20% on Monday and also pushed the markets higher.
Moderna did not immediately respond to a Reuters’ request for comment.
The company’s shares closed down 10.4% at $71.67.
(The story corrects shares close to $71.67, from 471.67, in last paragraph)
(Reporting by Manojna Maddipatla in Bengaluru; Editing by Sriraj Kalluvila)