Moderna Signs COVID-19 Vaccine Supply Deal With Gavi; Shares Gain 4%
Shares of Moderna Inc. (MRNA) spiked 4% to close at $186.02 on May
3 after the company revealed that Gavi, the Vaccine Alliance, has
agreed to supply up to 500 million doses of its COVID-19 Vaccine.
Notably, this includes an initial 34 million vaccine doses to be
supplied in the fourth quarter of this year. Per the terms of the
deal, on behalf of the COVAX Facility, Gavi has the option to
procure 466 million additional doses in 2022. The agreement covers
the 92 Gavi COVAX Advance Market Commitment (AMC) low-and
middle-income countries. Furthermore, Moderna has committed to
offer all doses at its lowest tiered price.