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Fly News Breaks for March 4, 2020
MRNA
Mar 4, 2020 | 20:19 EDT
Piper Sandler analyst Edward Tenthoff keeps his Overweight rating and $32 price target on Moderna, saying the company's "Manufacturing & Digital Day" presentation showcased its "overwhelming advantages" in mRNA drug discovery, development, and manufacturing, with ability to produce over 75g batches at a cost that is 69% lower than last year. The analyst notes that this capability has allowed Moderna to manufacture CMV vaccine mRNA-1647 in its ongoing phase 2 study and also gives it the speed to ship coronavirus vaccine mRNA-1273 for clinical testing in just 42 days.