Covid-19: Moderna soars 18% as vaccine gives promising early results

Moderna’s Covid-19 vaccine produced antibodies to the coronavirus in all patients tested in an initial safety trial, federal researchers said, clearing an important milestone as the US continues to grapple with a surge in new infections.

The US biotech firm’s breakthrough is one of the most promising developments yet in the race to develop a vaccine against the virus that has paralysed the world’s economy. Yet the road to a successful shot is filled with hurdles, and some patients in the trial experienced severe side effects.

Moderna’s shares gained about 18 per cent in US on Wednesday, as stocks of other companies