Early data on Moderna’s COVID-19 vaccine insufficient: Stat News

Data from a small, early-stage safety trial testing Moderna Inc’s (MRNA.O) experimental COVID-19 vaccine does not provide critical data to assess its effectiveness, Stat News reported on Tuesday, citing experts.

The health news publication’s report pulled down shares of the Cambridge, Massachusetts-based biotech and erased modest gains on the benchmark S&P 500 index .SPX.

Moderna said the vaccine candidate, the first to be tested in the United States, produced protective antibodies in a small group of healthy volunteers.

The news based on data from eight people who took part in a 45-subject safety trial sent the company’s shares up nearly 20 per cent and also pushed the markets higher.

Moderna did not immediately respond to a Reuters’ request for comment.