May 19, 2020 / 8:27 PM / 14 days ago

Early data on Moderna's COVID-19 vaccine insufficient: Stat News

A sign marks the headquarters of Moderna Therapeutics, which is developing a vaccine against the coronavirus disease (COVID-19), in Cambridge, Massachusetts, U.S., May 18, 2020. REUTERS/Brian Snyder

(Reuters) - Data from a small, early-stage safety trial testing Moderna Inc’s (MRNA.O) experimental COVID-19 vaccine does not provide critical data to assess its effectiveness, Stat News reported on Tuesday, citing experts.

The health news publication's report pulled down shares of the Cambridge, Massachusetts-based biotech and erased modest gains on the benchmark S&P 500 index .SPX.

Moderna said on Monday the vaccine candidate, the first to be tested in the United States, produced protective antibodies in a small group of healthy volunteers.

The news based on data from eight people who took part in a 45-subject safety trial sent the company’s shares up nearly 20% on Monday and also pushed the markets higher.

Moderna did not immediately respond to a Reuters’ request for comment.

The company’s shares closed down 10.4% at $71.67.

(The story corrects shares close to $71.67, from 471.67, in last paragraph)

Reporting by Manojna Maddipatla in Bengaluru; Editing by Sriraj Kalluvila

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