Trump’s Vaccine Czar Has $10M Stake In Vaccine Stock

CNBC reports:

Moderna’s closely watched early-stage human trial for a coronavirus vaccine produced Covid-19 antibodies in all 45 participants, the biotech company announced Monday.

Each participant was assigned to receive a 25 microgram, 100 mcg or 250 mcg dose at both vaccinations, with 15 people in each dose group. Study participants received two doses of the potential vaccine via intramuscular injection in the upper arm approximately 28 days apart.

At day 43, or two weeks following the second dose, levels of binding antibodies in the 25 mcg cohort were at the levels generally seen in blood samples from people who recovered from the disease, the company said. Antibodies in the 100 mcg had antibodies that “significantly exceeded levels” in recovered patients.

The Insider reports:

The former pharma executive tapped by President Donald Trump to lead the federal government’s hunt for a COVID-19 vaccine has more than $10 million in stock options in one of the companies receiving federal funding.

Dr Moncef Slaoui, a Belgian-American, was this week named Chief Scientist for Trump’s “Operation Warp Speed,” which aims to develop a working vaccine as fast as possible. Described across four separate filings, Slaoui has 155,438 options in Moderna.

The stake is worth $10,366,000 at Moderna’s current share price, $66.69 at the time of publication. Moderna shares have almost tripled in value during 2020. The $66.69 figure represents an increase of 184% from the $23.46 it was trading for on January 1.

Moderna’s stock surged after $400M in federal funding.