US drugmaker ships first batch of possible coronavirus vaccine

Shares of the biotech company soared soon after the announcement of its shipment

In a bid to fight the global novel coronavirus pandemic that has spread to over 60 countries, a US-based drugmaker has shipped its first batch of a possible COVID-19 vaccine for humans that can be tested by governments and researchers to curtail health hazards.

Stock shares of Moderna, the Massachusetts-based biotechnology company, soared soon after the company said it sent vials to the National Institute of Allergy and Infectious Diseases for early-stage testing in the United States, San Diego Tribune reported.

Drug maker Moderna ships first batch of possible coronavirus vaccine

COVID-19 was first reported in China’s Wuhan city in December 2019. More than 90,000 people in over 60 countries are tested positive of the deadly virus that has killed over 3,100 across the globe. Over 47,000 patients have recovered from the disease thus far.

Shares of Moderna Inc. jumped nearly 16%, or $2.92, to $21.51 in pre market trading.

The stock started trading in late 2018 and set an all-time high price of $29.79 last April, according to FactSet.

The ratio of confirmed cases to deaths suggests a mortality rate of 3.4 per cent, but several studies have concluded that up to two-thirds of infections in China and elsewhere have gone undetected, which would make the virus far less deadly.

The story originally appeared on San Diego Tribune