Moderna Inc is back in the news as it experienced a 5.75% jump in its share price today. The spike in Moderna share price came as the company presented new data from trials of its coronavirus vaccine candidate.
In a market brief monitored by Reuters, Moderna Inc reported on Wednesday that analysis of preliminary data from its latest trials indicate that similar immune responses occurred in both young and old participants. The statement said that its coronavirus vaccine candidate, mRNA-1273, produced similar immunogenicity in those aged 56-70 years as it did in younger adults, when delivered at a dose of 100 mcg.
These data came from Phase 3 clinical trials of the coronavirus vaccine candidate, and the positive results mark an important step towards final approval for human use. Typically, a review by the FDA follows a Phase 3 trial, after which a drug/vaccine either gets approved for human use or undergoes Phase 4 testing.
The statement immediately produced a response by investors, who had in the last few weeks, taken profit from earlier spikes and sent the stock into a downward retracement. Moderna Inc currently trades at 70.22 or nearly 6% higher on the day.
Technical Outlook for Moderna Inc
Moderna share price has made a bullish bounce from the 38.2% Fibonacci retracement level of the swing move from the 13 March 2020 low to the 17 July record high. This price level (66.65) therefore serves as the immediate support and is reinforced by the ascending trendline that connects the lows of 21 April, 2 July and 24/25 August. Further advance takes Moderna share price to the 73.40 resistance (21 May and 24 July highs, as well as lows of 23 July, 31 July and 6 August 2020). Price needs to overcome this level to target the resistance formed by the 23.6% Fibonacci retracement at 77.50 (13 July and 5 August highs). The push towards 73.40 needs to overcome the upper border of the channel.
On the flip side, price ascent can get arrested at any of the resistance levels mentioned, forming lower highs that indicate a stall in the uptrend. However, a selloff would occur if Moderna share price breaks below the channel and the ascending support trendline. The price level at this junction (63.45) is the level to beat for sellers, as it also marks the lows of 13 July and 24/25 August. A breakdown of this level opens the door towards the 55.72 price support (lows of 2 June and 2 July). 50.83 may also become relevant if a decline sends Moderna share price below 55.72.
Moderna Share Price Chart (daily)
Montreal restrictions tighten, as Ontario warns of 'more complex' second wave of COVID-19 – Haaretz.com
Quebec on Monday ordered new restrictions on bars and restaurants in coronavirus hot spots, while Ontario’s premier warned of a “more complex” second wave, as Canada’s two most-populous provinces saw big increases in COVID-19 cases.
Quebec, the Canadian province hit hardest by the novel coronavirus, will curb social gatherings in homes and limit bar and restaurant service to takeout for 28 days in Montreal and two other regions, Premier Francois Legault said. It reported 750 new coronavirus cases on Monday.
“It’s time to take action,” Legault told reporters in Montreal. “The situation is at the limit.”
The restrictions, which start on Thursday in the three regions, will not close businesses or schools.
But Legault introduced restrictions like allowing only people living at the same address to be there at the same time. Libraries, movie theaters and museums will close and protesters will have to wear masks during demonstrations, he said.
Earlier on Monday, Ontario, Canada’s most-populous province, reported a new daily high of 700 cases, with a bit more than a day’s worth of samples still pending at labs. The number of patients in hospital was also rising steadily, reaching 128, data showed.
“We know that this wave will be more complicated, more complex, it will be worse than the first wave we faced earlier this year,” Ontario Premier Doug Ford told reporters in Toronto.
The Ontario Hospital Association called on the province to bring back restrictions in some regions on indoor dining and bars, places of worship, weddings, gyms and other non-essential businesses.
Canada garnered praise earlier this month after it reported zero coronavirus deaths for the first time since March. But health officials are now warning that some local authorities could be overwhelmed unless the wave of infections is curbed.
In Alberta, where cases have also been rising, the provincial government postponed dozens of surgeries and imposed visiting restrictions at a Calgary hospital because of an outbreak. Twenty-six patients and 27 staff have confirmed infections and more than 100 staffers are in isolation. Four patients have died.
Overall, cases in Canada rose by 1,454 to 153,125, while six more deaths took the total to 9,268, according to data released on Sunday.
Doctors worry supplies of flu vaccine, PPE won't meet demand, survey suggests – CBC.ca
A new survey suggests many doctors fear they won’t have enough of the flu vaccine to meet demand this season.
The Canadian Medical Association says more than 86 per cent of 1,459 survey respondents said they worry influenza season will put additional strain on the health care system.
Of those doctors who offer the flu vaccine, half said they won’t have enough doses to meet demand and 85 per cent said the system needs more capacity.
The survey, conducted Aug. 19 to 24, also found 54 per cent of respondents still struggle to acquire personal protective equipment.
The survey found 68 per cent worry suppliers won’t have enough PPE, 62 per cent expect orders to be delayed and more than half fear global demand will hinder supply.
Extra flu vaccines ordered
Nevertheless, three quarters of those asked said they believe the health care system is better prepared for COVID-19 resurgences than it was during the first wave.
Canadian health officials have said that additional flu vaccines have been ordered this year to meet expected demand.
Earlier this month, a Public Health Agency of Canada spokesperson told The Canadian Press the agency ordered 13 million doses of the flu vaccine, up from 11.2 million last year.
CMA president Dr. Ann Collins said influenza immunization “is more important than ever this year.”
“We need to avoid a possible twin epidemic of flu and COVID-19 as it can be devastating to patients and our ability to sustain health care delivery,” Collins said Tuesday in a media release.
“We need to focus on greater funding and resourcing of public health to support mass vaccination efforts.”
She also said it’s “imperative” that governments ensure front line workers are protected by PPE as COVID-19 surges in many parts of Canada.
Half a million sharks could be killed for Covid-19 vaccine, say experts – Euronews
Shark squalene is being considered for use in coronavirus vaccines, warn conservationists. Squalene is a natural organic compound, found in shark liver oil.
Between 2,500 – 3,000 sharks are needed to extract one tonne of squalene. Conservation group Shark Allies predicts that if the world’s population all received one dose of the vaccine, around 250,000 sharks would have to be slaughtered, depending on the amount of squalene used. Two doses for every person in the globe would amount to half a million sharks.
Currently, British pharmaceutical giant GlaxoSmithKine (GSK) uses squalene in flu vaccines. The oil is used as an adjuvant in medicine, an ingredient that increases the effectiveness of a vaccine by creating a stronger immune response. GSK has announced that it would manufacture a billion doses of the adjuvant for potential use in coronavirus vaccines.
Shark Allies is concerned that killing so many sharks will do irreversible damage to our oceans’ ecosystems.
It says we should be using plant-based and synthetic alternatives for squalene, which don’t derive from sharks.
“We are in no way trying to hinder or slow down the development of a COVID-19 vaccine or any other critical treatment that is needed to protect humanity from illness,” states Stefanie Brendl, founder of California-based Shark Allies.
However, she adds, “we are asking that sustainably sourced squalene is used in all non-critical applications and where the alternative is just as effective as shark squalene, and that all future testing of adjuvanted vaccines is giving plant-derived sources equal consideration.”
Maintaining ocean health is critical
Sharks are critical to ocean health and function. They are a key element in life systems that affect ocean health, food security, and livelihoods for generations to come. We need the ocean and the ocean needs sharks. But populations have been severely depleted in recent decades.
Using squalene in universally deployed Covid vaccines could be detrimental for many shark species.
“It would be unconscionable if more harm was done by something that was avoidable,” says Brendl.
“Moving society away from harmful practices requires awareness and a willingness to tackle a transition period. Profit margins may not look as favorable if taking wild animals is seen as cheaper and easier than other processes. Sourcing an ingredient from a wild animal is not a long-term solution.”
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