Moderna

Shortly after touting positive results from its COVID-19 vaccine candidate, Moderna announced the pricing of an offering of 17.6 million shares of its common stock.

The Cambridge, Mass.-based clinical-stage biotechnology company announced yesterday that it received positive interim clinical data from trials for its mRNA-1273 vaccine candidate against coronavirus (SARS-CoV-2).

Moderna’s underwritten public offering, announced late last night, includes the 17.6 million common stock shares priced at $76 per share. The company is also granting underwriters a 30-day option to purchase up to an additional 2.64 million shares of common stock at the public offering price.

All shares of common stock are being offered by Moderna, with gross proceeds expected to reach approximately $1.34 billion. The company expects the offering to close on or about May 21.

Morgan Stanley is acting as sole book-running manager for the offering.

Moderna today touted positive interim clinical data from trials for its mRNA-1273 vaccine candidate against coronavirus (SARS-CoV-2).

The Phase I study, led by the National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health (NIH), recorded positive early results from the first eight people tested, each of whom received two doses of the vaccine candidate beginning in march.

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