Moderna Inc. is negotiating supply agreements for its experimental coronavirus vaccine with several countries, the company said Wednesday, adding that it has already received about $400 million in advance payments for potential shipments.
The company’s vaccine candidate is one of the few in final stages of testing as drugmakers race to develop a safe and effective vaccine against the pandemic that has claimed more than 700,000 lives worldwide.
Last week, Moderna announced the start of a study in 30,000 people to demonstrate the vaccine’s safety and effectiveness – the final hurdle before approval. According to the company, the vaccine could be ready for widespread use by the end of this year.
The company, which ended the quarter with $3.1 billion in cash, cash equivalents and investments, said it is on track to complete enrollment for the study in September.
Last month, Moderna said it plans to price its coronavirus vaccine to ensure widespread access and that it does not intend to conduct late-stage trials of the vaccine outside the United States.
“As we evolve into a commercial company, we recognize the need for responsible pricing in light of the pandemic,” Chief Executive Officer Stéphane Bancel said in a statement.
The company, which does not yet have a drug on the market, has received nearly $1 billion from the U.S. government as part of a plan to speed up vaccine development.
