Moderna Inc (NASDAQ: MRNA), one of the frontrunners in the coronavirus vaccine race, announced Monday it's closing in on signing a new supply agreement.
What Happened: Cambridge, Massachusetts-based Moderna said it has concluded advanced exploratory talks with the European Commission to supply 80 million doses of its coronavirus vaccine candidate – mRNA-1273.
The agreement also provides an option for member states to purchase an additional 80 million doses.
"We appreciate the European Commission's collaboration in helping to ensure that Europeans will have access to a safe and effective vaccine, and we are proud that the European Commission has recognized the potential of our mRNA vaccine technology," said Stéphane Bancel, CEO of Moderna.
The company has a supply deal in place with the U.S. government.
What's Next? Moderna said the Phase 3 study, which began July 27, is on track to be completed in September.
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