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Moderna Surges After Saying Omicron Vaccine Ready Early 2022

  • Stock jumps 12% and holds onto top spot on the S&P 500 Index
  • Company’s mRNA tech adapts well to variants, analyst says
Boxes of the Moderna Inc. Covid-19 vaccine in a freezer room.

Boxes of the Moderna Inc. Covid-19 vaccine in a freezer room.

Photographer: Kobi Wolf/Bloomberg
Updated on

Moderna Inc. posted its best two-day rally in a year after the company said a new vaccine to fight the omicron strain of the coronavirus could be ready by early 2022 if required.

The stock jumped 12% to the highest level since Sept. 30 after surging 21% during Friday’s global risk-asset selloff, to reclaim its place as top performer on the S&P 500 year-to-date. The company mobilized hundreds of workers on Thanksgiving Day last Thursday in order to start work on omicron, Chief Medical Officer Paul Burton said over the weekend.