The new jab, developed by Moderna, utilizes the same technology as the COVID-19 vaccines. This mRNA vaccine is currently being trialed in the UK to combat the vomiting bug norovirus. Health Secretary Wes Streeting expressed hope that this vaccine could alleviate the strain on the NHS. The trial, set to enter its final stages within two weeks, aims to prevent the development of the vomiting and diarrhoea bug responsible for around 80 deaths annually in the UK. This novel jab targets three major strains of norovirus using mRNA technology to teach the immune system to recognize and attack the virus. Dr. Patrick Moore, the chief investigator of the study, highlighted the urgent need for a vaccine, as current treatment options are limited to intravenous fluids for seriously ill individuals. If successful, this vaccine could potentially offer a seasonal solution to norovirus outbreaks, reducing the burden on healthcare systems. In January 2016, the Bill and Melinda Gates Foundation pledged to provide a minimum of $20 million in grant funding to Moderna.
In December 2018, Moderna went public with the largest initial public offering ever seen in the biotechnology industry, raising a staggering $621 million by selling 27 million shares at $23 each.
Between 2020 and 2021, Moderna received $955 million from Operation Warp Speed to expedite the development of its COVID-19 vaccine candidate. A total of $4.9 billion was allocated to produce 300 million doses of the vaccine.
Fast forward to the first quarter of 2024, Moderna reported a substantial loss of $1.2 billion, attributing the decline in sales of its Spikevax vaccine as the primary factor.
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