Moderna taps red hot stock demand with $1.34B offering

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The company announced that an experimental vaccine against the coronavirus showed encouraging results in very early testing and later in the day announced the pricing for a share offering.

Moderna announced the pricing of 17.6 million shares at $76.00 each, with underwriters having 30 days to purchase more than another 2.6 million shares.

Gross proceeds from the offering will be about $1.34 billion, topping the company’s stated goal of $1.25 billion.

The news of the vaccine testing boosted the company’s share price by more than 19 percent in Monday’s session and in turn helped trigger an even wider equity rally.

In the next phase of the study, led by the U.S. National Institutes of Health, researchers will try to determine which dose is best for a definitive experiment that they aim to start in July.

Quotes delayed at least 15 minutes. Real-time quotes provided by BATS BZX Real-Time Price. Market Data provided by Interactive Data (Terms & Conditions). Powered and Implemented by Interactive Data Managed Solutions. Company fundamental data provided by Morningstar. Earnings estimates data provided by Zacks. Mutual fund and ETF data provided by Lipper. Economic data provided by Econoday. Dow Jones & Company Terms & Conditions.

This material may not be published, broadcast, rewritten, or redistributed. ©2020 FOX News Network, LLC. All rights reserved. FAQ – Updated Privacy Policy

Source: https://www.foxbusiness.com/markets/moderna-taps-red-hot-stock-demand-with-1-34b-offering

Moderna stock,Moderna,moderna vaccine,mrna stock,vaccine

World news – CA – Moderna taps red hot stock demand with $1.34B offering

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