What's Going On With Moderna Stock?

Moderna Inc MRNA shares are trading higher Wednesday. Reports indicate the company is getting close to inking a new deal with the U.S.

According to a Bloomberg report, Moderna is nearing a deal with the U.S. Department of Defense to develop mRNA vaccines designed to target a range of biological threats such as Ebola virus.

If the deal is finalized, Moderna will reportedly work with researchers from the University of Texas Medical Branch at Galveston to further develop the company's mRNA technology that was used to quickly develop COVID-19 vaccines, according to people familiar with the situation.

Moderna "continues to explore potential Ebola vaccines, based on earlier research conducted with academic partners," a company spokesperson reportedly said in an email. Financial terms for the potential contract were not available.

Moderna is a commercial-stage biotech company. Its mRNA technology was rapidly validated with its COVID-19 vaccine, which was authorized in the United States in December 2020. 

From Last Week: US Sends Gilead's COVID-19 Antiviral To Safeguard Health Workers In Uganda Ebola Outbreak

MRNA Price Action: Moderna has a 52-week high of $249.42 and a 52-week low of $115.03.

The stock was up 4.52% at $142.75 Wednesday afternoon, according to Benzinga Pro.

Photo: Marco Verch from Flickr.