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I haven't seen this type of economic hysteria since the tech bubble in 2000. An eight person study moved the Dow Jones by 800 points.
Eight people. That’s all it took to move the market on Monday.
The eight were study participants who received a potential COVID-19 vaccine and produced antibodies that killed the coronavirus in a laboratory dish.
Within hours of issuing a press release about this finding, Moderna, the Cambridge-based maker of the experimental vaccine, saw its stock price jump by 20 percent. By day’s end, Moderna was credited with helping drive a 4 percent rise in the stock market.
So far, Moderna has not brought a single drug to market — not an unusual situation in the biotech world. The company has more than 20 drugs in the pipeline, including potential treatments for rare diseases and cancer, and nine possible vaccines against various viruses.
Moderna officials and others who cheer the early findings say the hope is well-founded. But critics point to the scarcity of data provided and the many unanswered questions.
"This is not how you do science. It’s really impossible to make sense of their statements,” said Dr. Peter J. Hotez, co-director of the Texas Children’s Hospital Center for Vaccine Development, which is also working on a COVID-19 vaccine.
‘This is not how you do science’: Cambridge biotech Moderna’s potential COVID-19 vaccine stirs hope — and criticism - The Boston Globe
Eight people. That’s all it took to move the market on Monday.
The eight were study participants who received a potential COVID-19 vaccine and produced antibodies that killed the coronavirus in a laboratory dish.
Within hours of issuing a press release about this finding, Moderna, the Cambridge-based maker of the experimental vaccine, saw its stock price jump by 20 percent. By day’s end, Moderna was credited with helping drive a 4 percent rise in the stock market.
So far, Moderna has not brought a single drug to market — not an unusual situation in the biotech world. The company has more than 20 drugs in the pipeline, including potential treatments for rare diseases and cancer, and nine possible vaccines against various viruses.
Moderna officials and others who cheer the early findings say the hope is well-founded. But critics point to the scarcity of data provided and the many unanswered questions.
"This is not how you do science. It’s really impossible to make sense of their statements,” said Dr. Peter J. Hotez, co-director of the Texas Children’s Hospital Center for Vaccine Development, which is also working on a COVID-19 vaccine.
‘This is not how you do science’: Cambridge biotech Moderna’s potential COVID-19 vaccine stirs hope — and criticism - The Boston Globe
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