Moderna, Inc. MRNA shares have surged 78.1% so far this year against the industry’s decline of 8.6%, riding on the progress of its development of coronavirus vaccine.

With the coronavirus pandemic infecting more than a million people worldwide and killing almost 70,000, the focus is increasing on pharmaceutical and biotech companies for any update on developing drugs and vaccines to help combat COVID-19. These companies are racing against time to successfully develop a treatment or vaccine to combat the disease.  Moderna’s vaccine candidate, mRNA-1273, is one of the leading candidates in this race.

In March, Moderna announced that it has dosed the first patient in a phase I study, evaluating mRNA-1273 against COVID-19. The company succeeded in starting a clinical study for COVID-19 vaccine in just over

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