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Coronavirus Vaccine Frontrunner Moderna Appoints Former Amgen Executive As CFO

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Coronavirus Vaccine Frontrunner Moderna Appoints Former Amgen Executive As CFO

Moderna Inc (NASDAQ: MRNA), which is on the cusp of starting a Phase 3 trial of its SARS-CoV-2 vaccine candidate mRNA-1273, announced a C-suite change Thursday. 

Moderna Taps Amgen Veteran

The Cambridge, Massachusetts-based biopharma said it has appointed David Meline as its CFO effective June 8.

The company announced along with its first-quarter earnings release May 7 that Lorence Kim, the incumbent CFO, will leave the company in August after a six-year stint.

Meline previously served as CFO of Amgen, Inc. (NASDAQ: AMGN) between 2014 and 2019, and also served in a similar position at 3M Co (NYSE: MMM). 

While at Amgen, Meline was known for producing pristine financial reports and was also instrumental in striking the Beigene Ltd (NASDAQ: BGNE) deal, which has helped the former expand its footprint in China, Endpoints News reported.

Why It Matters

The appointment assumes importance as Moderna is touted by sell-side as well as the Trump administration as one of the contenders likely to successfully clear the finish line in the coronavirus vaccine race.

A Phase 2 trial is underway, with a Phase 3 study set to start in July. The company recently announced positive interim results from a NIAID-sponsored Phase 1 trial.

"I am pleased to welcome David to Moderna as our Chief Financial Officer and to the Executive Committee. As we prepare for the Phase 3 studies of our SARS-CoV-2 vaccine and our CMV vaccine, we are entering another critical phase for the Company. We have started to build commercial capabilities and started to set up commercial subsidiaries in several countries," Moderna CEO Stéphane Bancel said in a statement. 

At last check, Moderna shares were rising 0.65% to $60.28 at the time of publication. 

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