Moderna CEO says its coronavirus vaccine won't be ready until spring of next year
Source: cbs news
Updated on: September 30, 2020 / 5:41 PM / MoneyWatch
Moderna CEO Stéphane Bancel said Wednesday that his company's coronavirus vaccine won't be ready for widespread public distribution until spring of next year, according to a report. The drugmaker also won't seek emergency authorization for the vaccine for frontline medical workers and other at-risk individuals until November 25 at the earliest, he told the Financial Times.
Speaking at a health conference on Wednesday, Bancel said Moderna would not be ready to seek Food and Drug Administration approval for the vaccine for use in the general population until at least late January. If the vaccine is proven to be safe and effective, approval is unlikely until late March or early April.
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The timeline is a setback for Moderna, which said earlier this month that it could seek emergency authorization for a vaccine as soon as November 1. It also deals a blow to claims by President Donald Trump, which he repeated on Tuesday in his debate with Joe Biden, that a vaccine could be ready in a matter of weeks, or before the November 3 presidential election.
"We're weeks away from a vaccine," Mr. Trump said on Tuesday night during the.........
Read more: https://www.cbsnews.com/news/moderna-ceo-coronavirus-vaccine-wont-be-ready-until-spring-2021/?ftag=CNM-00-10aac3a
I knew Trump was pushing it.
Claustrum
(4,845 posts)I would say it's impossible to get any vaccine approved in a few weeks in normal circumstances. But I know Trump will force FDA to emergency approve one that hasn't gone through all the right steps just to score some political points.
donkeypoofed
(2,187 posts)That's still pretty fast, 15 months or so after naming it, a novel virus.
BadgerKid
(4,541 posts)Tools for identifying candidates or strategies have only gotten better over time. Still, it all yields to biology.
bullimiami
(13,043 posts)OilemFirchen
(7,143 posts)"On a scale of one to 10, one being less concerned and 10 being the most concerned," said Daniel Taylor, an associate professor of accounting at the Wharton School, "this is an 11."
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The stock sales first came to widespread notice after Moderna announced positive early data from a vaccine trial in May. At that point, the company's share price jumped and official disclosures showed executives cashing in their shares for millions of dollars.
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In an interview with CNBC in July, CEO Bancel said he and other executives set up their 10b5-1 plans "a long time ago" - in December 2018 - and "obviously, when we set up those plans, none of us had any idea what was going to happen in 2020."
In fact, NPR has found, Moderna executives, including Bancel himself, implemented new plans or modified older plans at multiple points in 2020, and right around key announcements related to the company's vaccine.
LOTS more at the link: https://www.npr.org/2020/09/04/908305074/bad-optics-or-something-more-moderna-executives-stock-sales-raise-concerns