Moderna COVID vaccine trial on track for July start, says Piper Sandler

Piper Sandler analyst Edward Tenthoff reiterates an Overweight rating on Moderna with a $100 price target after the company posted the Phase III study protocol of its SARS-CoV-2 vaccine mRNA-1273 to clinicaltrials.gov this morning. The stock in morning trading is up 92c to $72.70. The study will randomize 30,000 Americans 18 years and older at high risk of infection to either 100ug mRNA-1273 or placebo intramuscular injections given on Day 1 and Day 29, Tenthoff tells investors in a research note. According to clinicaltrials.gov, the Phase III trial of mRNA-1273 is set to begin July 27, the analyst notes. Tenthoff says the Phase III trial is on track to start this month.