Moderna said on Monday that it had launched a late-stage study sponsored by the United States government to investigate its COVID-19 vaccine candidate in approximately 30,000 adults who do not suffer from the respiratory disease caused by the new coronavirus.
Modernas shares, based in Cambridge, Massachusetts, rose before the bell by 11% to USD 81.31.
The COVE study is the first to be conducted as part of the U.S. Government's Warp Speed Operation to accelerate the development, manufacture, and distribution of therapeutic and vaccine products for COVID-19.
The federal government has funded Moderna's vaccine project with nearly $ 1 billion and was one of the first to take part in large-scale human trials.
The main goal of the study will be to prevent symptomatic COVID-19 disease, the company said.
(Except for the headline, this story was not edited by NDTV staff and published from a syndicated feed.)