Omicron coronavirus variant lifts Moderna's stock price

·1 min read

Data: FactSet; Chart: Axios Visuals

Moderna's stock soared 12% Monday, putting its market cap just shy of $150 billion.

Driving the news: The Omicron variant of the coronavirus has raised a lot of questions, including whether the vaccines will remain as effective.

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  • But experts have expressed caution, saying it'll be weeks before we know more about how infectious this strain is and how it affects the vaccines.

  • "We need to wait for the data to know if this is true and how much is it going down," Moderna CEO Stéphane Bancel told CNBC about the company's vaccine effectiveness.

  • Moderna is working on a multi-variant booster and an Omicron-specific vaccine, Bancel said.

Between the lines: Moderna's COVID-19 vaccine is the company's only approved product right now.

  • Consequently, every coronavirus development significantly affects the company because the vaccine is the company at this point in time.

What to watch: Whether the Biden administration will put more pressure on Moderna to share its vaccine know-how with other companies and organizations.

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