In the Thursday session, shares of Moderna Inc (MRNA) rose by 5.09 percent to $144.00. Before critical meeting of the FDA advisory committee on the day, an optimistic expert report was released by the Food and Drug Administration (FDA) on Tuesday, saying that the vaccine of Moderna did not present a particular safety issue. The review of the FDA experts also reported that the vaccine was 94.1 percent successful in compliance with data published by the U.S. firm. Even if it is not obligated to do so, the agency usually follows the experts’ advice.
The first vaccine developed jointly by Pfizer and BioNTech, was given the green light last weekend by the FDA, enabling the U.S. health authorities to launch their vaccination campaign as early as Monday.
Pfizer was up 0.50 percent to $38.03 and BioNTech was up 0.61 percent to $106.43. The U.S. biotechnology firm is in talks with the Trump administration to include tens of millions of additional doses of its vaccine developed in partnership with BioNTech, in the second half of 2021, according to the New York Times. The FDA found that extra doses were included in the Pfizer vaccine vials, potentially extending the availability of vaccines in the country by up to 40 percent. The vials are supposed to contain the equivalent of five doses, according to Politico’s article on this subject, but pharmacists have found that they have enough vaccine in each vial for a sixth or even a seventh dose.
Novavax Inc (NVAX) also surged by 8.99 percent to $131.75 in trading on Thursday. Preliminary negotiations Novavax with the European Union ended yesterday. The EU plans to procure from the US laboratory, which is currently in Phase 3 of its clinical trial, up to 200 million doses of the Covid-19 vaccine candidate. The European Commission, responsible for ensuring Europe’s supply of vaccines, has already signed contracts with AstraZeneca, Sanofi-GSK, Janssen Pharmaceutica NV (a Johnson and Johnson subsidiary), BioNtech-Pfizer, CureVac and Moderna.
Lennar Corporation (LEN) stock jumped 7.62 percent in Thursday session to close at $79.95. The U.S. residential construction firm posted quarterly results that met market expectations. Despite Covid, decline in revenues was limited, which decreased by 2 percent in the quarter, while gross home sales margin improved to $1.6 billion and 25 percent. Earnings per share rose 32 percent to $2.82 for the fiscal fourth quarter. Revenues were $6.83 billion in total.