New York: Moderna Inc. shares slid 3.5% on Friday as unease mounted about the biotech’s Covid-19 vaccine trial fueled by ongoing insider shares sales and an enrollment slowdown.
With late-stage trial results weeks away, the stock has shed more than a third of its value from record highs in mid-July. Still, shares have more than tripled since the beginning of the year, prompting several insiders to cash out.
Chief Executive Officer Stephane Bancel, who found himself a newly minted billionaire as a result of the pandemic, disposed of an additional 18,000 shares this week, including some tied to entities controlled by him.
The sales are just the latest in a string of transactions that started in February as insiders have taken advantage 10b5-1 trading plans that allow sales at predetermined times or prices. While the trading plans are legal, they have faced criticism over letting executives skirt insider trading laws. New criticism of the sales cropped up in an NPR report Friday, which said key players at the Cambridge, Massachusetts-based company have sold about $90 million in stock since June and drew attention to changes to Chief Medical Officer Tal Zaks’s trading plan in January.
The continuous sales aren’t a good look ahead of the company’s upcoming Covid-19 results when investors would want to see confidence from the company’s management.
A CNBC report also likely hit the stock Friday, pointing to a slowdown in enrollment to be sure enough of those hardest hit by the pandemic, namely Black Americans, were taking part in the study. Moderna is racing alongside more experienced drugmakers like AstraZeneca Plc in partnership the University of Oxford as well as Pfizer Inc. and its German partner BioNTech SE to get out late-stage data in thousands of patients showing vaccines will work against the virus.
Other vaccine testers — which have seen three and four digit percentage gains this year — also tumbled with the broader market on Friday. Novavax Inc. plunged 9.8%, Inovio Pharmaceuticals Inc. fell 2.8% and Vaxart Inc. dropped 5.2%.-Bloomberg
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Avoid gatherings, warn experts as 896 new COVID-19 cases reported in Quebec – Montreal Gazette
Article content continued
His 15-year-old daughter Noa, a Grade 10 student at Villa Maria High School, said students her age “aren’t the best at following certain measures.”
“Our class sizes have increased and after school, when the bell rings, the hallways are jam-packed,” she said.
Dubé said Friday that Quebec has no plan to impose a second lockdown, in part because of fears that more people would instead gather in private homes.
But Kaufman warned that if people don’t limit their social contacts, more stringent measures could result.
“Further restrictions of bars, restaurants and other businesses are likely if things don’t turn a corner soon, and that will be tough for businesses that have already suffered a lot,” he said.
Quebec reported four new deaths Sunday, of which two were in the past 24 hours and the others between Sept. 20-25. Quebec’s death toll now stands at 5,825. Seven deaths were reported Saturday.
There were 216 people hospitalized for the virus Sunday, of whom 41 were in intensive care.
A total of 27,380 people tested on Friday, for a cumulative total of 2,260,835 people tested to date.
Kaufman said that while cases were concentrated in Montreal during the first wave in the spring, now they are more evenly spread across the province.
Montreal reported 1,542 new cases in the past week, for a cumulative total of 32,939. Two people died of COVID-19 in Montreal in the past week, and 31 people were hospitalized.
51 new cases of COVID-19 announced in Manitoba on Sunday – CBC.ca
There are 51 new cases of COVID-19 in Manitoba on Sunday, the province says in a news release, including 36 in the Winnipeg health region.
Another eight new cases are in the Interlake-Eastern Health region, and four are in the Southern Health region, the release says. Two new cases are in the Northern Health region and the remaining one is in the Prairie Mountain Health region.
More information will be released about the new cases if a risk to public health is identified.
There are 13 people hospitalized with COVID-19 in the province, the release says, including six in intensive care.
Five of those people, or a little over one-third, are attributed the Winnipeg health region, according to provincial data. Two of those people are in intensive care.
There are three people hospitalized with the illness are linked to the Prairie Mountain Health region (with two in intensive care) and three are attributed to the Southern Health region (with one in intensive care).
There is one person hospitalized with COVID-19 from the Northern Health region, and one person from the Interlake-Eastern health region is in intensive care.
Manitoba’s five-day test positivity rate — a rolling average of the proportion of COVID-19 tests that come back positive — is down slightly to 2.2 per cent, the release says.
There are now 589 active cases of the illness in Manitoba, including 490 — or 83 per cent — in the Winnipeg health region, according to provincial data.
There have been 1,880 cases of COVID-19 detected in Manitoba, the release says; 1,272 have recovered and 19 have died.
Masks being distributed
Manitoba Families will give out more than 227,000 reusable masks to its clients, the release says. That will come out to two per every adult in a household, and for kids aged five to nine. Older kids will instead get masks through their school or child-care provider, the release says.
That distribution will start in Winnipeg and continue across Manitoba in the coming weeks.
Starting Monday, people in Winnipeg and 17 surrounding communities will have to wear masks in all public indoor spaces and cap gatherings at 10 as the region moves to the orange — or “restricted” — level under the province’s pandemic response system.
The new rules will stay for at least four weeks, Manitoba’s top doctor said, which is roughly two incubation periods of the illness.
That timeframe, announced by Chief Provincial Public Health Officer Dr. Brent Roussin on Friday, includes Thanksgiving. The holiday falls on Oct. 12 this year.
The province is still working to increase capacity and reduce wait times at sites in Winnipeg as demand for COVID-19 testing spiked in response to increasing cases in the region.
On Saturday, 2,200 COVID-19 tests were done in Manitoba. There have now been 178,067 tests completed in the province since early February, the release says.
Coronavirus: Latest developments in the Greater Toronto Area on Sept. 27 – Global News
Here are the latest developments on the coronavirus pandemic in the Greater Toronto Area for Sunday:
Ontario reports nearly 500 cases
Ontario reported 491 new cases of the novel coronavirus on Sunday, bringing the total number of cases in the province to 49,831.
It’s the biggest single-day increase in cases since May 2 when 511 were reported.
“Locally, there are 137 new cases in Toronto with 131 in Peel, 58 in Ottawa and 58 in York Region,” Health Minister Christine Elliott said on Twitter.
“Sixty-three per cent of today’s cases are in people under the age of 40.”
Elliott said more than 42,500 additional tests have been completed, which is among all-time highs.
Canada signs new coronavirus vaccine deals
Around 600 people possibly exposed at Toronto bar
Toronto Public Health says around 600 people may have been exposed to the novel coronavirus after three staff members at a bar tested positive.
Officials said the possible exposure period is from Sept. 13 to Sept. 22 at the Regulars Bar on King Street, near Bathurst Street.
All known close contacts of the individuals who tested positive have been contacted, officials said. Anyone not contacted is viewed as low risk.
People who attended the bar are being advised to monitor for symptoms of COVID-19 for 14 days since their last visit and if symptoms develop, self-isolate and get tested.
Toronto restaurant closed after employee tests positive
Reyna on King, a restaurant located near Parliament and King streets, is temporarily closed after an employee tested positive.
In a social media post, the restaurant said the employee last worked mid-week.
Neighbouring Reyna Bazaar is also closed for deep cleaning while employees are tested, the post said.
“Unfortunately, we have had to cancel all reservations for the next few days and will re-open as soon as we have the green light that our team has a clean bill of health and it is safe to re-open,” the restaurant said.
“We feel confident that this is a one-off incident as nobody else on the team was showing any symptoms and our health and safety procedures are very strict.”
© 2020 Global News, a division of Corus Entertainment Inc.
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