Moderna Awarded $1.74 Billion Contract for COVID-19 Vaccines

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Moderna ($NASDAQ:MRNA) has been awarded a $1.74 billion contract for the purchase, storage and distribution of COVID-19 vaccines. The work will be performed in Cambridge, Massachusetts, with an estimated completion date of March 27, 2024. This is a significant contract for Moderna, and is likely to have a positive impact on their market and earnings in the long term.

Market Reaction

On Friday, Moderna stock opened at $161.4 and closed at $164.1, up by 3.8% from last closing price of 158.1.

VI Analysis

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Summary

Moderna Inc. ($NASDAQ:MRNA) was awarded a $1.74 billion contract from the U.S. The news sent Moderna’s stock price up 3.8% the following day. Investing in Moderna could be a good way to profit from the ongoing pandemic. The company’s vaccine is one of the most promising candidates for preventing COVID-19, and the U.S. government’s contract shows that there is significant demand for the vaccine. Moderna’s stock price is likely to continue to rise as more information about the vaccine’s efficacy becomes available.