Prognosis
Moderna Jumps to Record on Evidence It Beats Delta Variant
- Vaccine-maker’s shares rally as more contagious strain spreads
- Trading volume surges as India clears shots for emergency use
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Shares in Moderna Inc. climbed to a record high after the company said its vaccine produced protective antibodies against the more contagious delta variant of Covid-19.
The shares rose 5.2% to close at $234.46 on Tuesday. The drug regulator in India, where the variant has been spreading, has approved the import of Moderna's shots for restricted emergency use on Tuesday. The world’s second most-populous country trails richer nations with a little more than 4% of the population fully vaccinated, compared with almost half in the U.S.