Moderna boosts supply agreements with Covax, Gavi by 20 million doses this year and 20 million doses next year


Moderna Inc. MRNA, -12.12% announced new supply agreements for COVID-19 vaccine doses with Gavi, the vaccine alliance, that includes 20 million additional doses this year and 20 million more doses next year. The biotechnology company said it will supply 20 million vaccine doses to Covax, a United Nations program that aims to deliver vaccines to lower-income countries, to boost the total supply made available to Covax in 2021 to 54 million doses. And the additional supply of 20 million doses next year, for delivery in the second quarter to Gavi, the Vaccine Alliance, brings the total for the second quarter to up 136.5 million doses. There is also an option to buy an additional 30 million doses in the second quarter of 2022 and an additional 100 million doses in the third quarter. Moderna’s stock, which tumbled 12.9% in premarket trading. It has plummeted 43.8% from its Aug. 9 record close of $484.47 through Thursday, while the S&P 500 SPX, +0.60% has gained 5.3% over the same time.

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