Moderna Coronavirus Vaccine Phase 2 Trials Could Start In Spring, Chairman Says

The second phase of the clinical trials of the novel coronavirus (COVID-19) vaccine of Moderna Inc. MRNA could begin in spring, the biotechnology company's chairman Noubar Afeyan told CNBC on Thursday.

Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.

What Happened

"It's difficult to put a specific date on things just because it's a very dynamic situation," Afeyan said. "We've entered phase 1 trials. ... We'll enter hopefully phase 2 trials, we expect that to happen in the spring, perhaps early summer," Afeyan said. "And success there will hopefully lead us to phase 3 trials."

Moderna's phase one clinical trial started on March 16, in collaboration with the National Institute of Health.

White House Coronavirus Task Force member Anthony Fauci on Wednesday said that the trials were "on track," and the vaccine, if approved for use, could be available in the next 12 to 18 months.

Other companies, including Johnson & Johnson JNJ and Inovio Pharmaceuticals Inc. INO, have been working on developing their coronavirus vaccines as well.

Afeyan told CNBC that Moderna hoped "that everybody succeeds because the worldwide demand for these types of interventions is far in excess of what any one player can deliver."

Price Action

Moderna's shares closed 11.9% higher at $33.20 on Thursday. The shared traded 0.27% lower at $33.11 in the after-hours session.