PremiumModerna Inc said on Thursday it was preparing to launch its experimental coronavirus vaccine. “We are actively preparing for the launch of mRNA-1273 and we have signed a number of supply agreements with governments around the world," Moderna CEO Stephane Bancel said in a press release. The company has received $1.1 billion in customer deposits for the shots during the third quarter, the company mentioned in the filing.
Moderna's COVID-19 vaccine contains genetic material called messenger RNA, or mRNA which provokes the immune system to fight the virus, scientists believe. Dubbed as mRNA-1273, the vaccine has been developed by Moderna in partnership with the US government’s National Institutes of Health (NIH).
“Moderna is committed to the highest data quality standards and rigorous scientific research as we continue to work with regulators to advance mRNA-1273," CEO added.
The COVID-19 vaccine was generally well-tolerated across all age groups and induced rapid and strong immune responses, a study by the New England Journal of Medicine revealed. Another study suggested that it elicited a strong immune response in older adults with no serious adverse effects during phase I trial. "The vaccine produced high levels of both binding and neutralising antibodies in older adults," the study claimed.
The vaccine is currently being tested in a large human trial. Moderna recently finished enrolling participants for a 30,000-volunteer study that is testing whether the vaccine can help prevent COVID-19. Early data from the trial is expected in the coming weeks.
Moderna Inc earlier told Reuters it would seek emergency FDA authorization to use its vaccine in high-risk groups if an interim assessment of its trial showed its vaccine was at least 70% effective.
On 11 August, Moderna announced a supply agreement with the US government for an initial 100 million doses of its experimental vaccine. The vaccine maker is in talks with COVAX on a tiered pricing proposal for purchasing its vaccine, it said.
Customer deposits for the supply of Moderna’s experimental COVID-19 vaccine were recorded as as deferred revenue. It already has supply agreements in North America, the Middle East and in other regions of the world.
