Omicron variant lifts Moderna's stock price
Moderna's stock soared 12% Monday, putting its market cap just shy of $150 billion.
Driving the news: The Omicron variant of the coronavirus has raised a lot of questions, including whether the vaccines will remain as effective.
- But experts have expressed caution, saying it'll be weeks before we know more about how infectious this strain is and how it affects the vaccines.
- "We need to wait for the data to know if this is true and how much is it going down," Moderna CEO Stéphane Bancel told CNBC about the company's vaccine effectiveness.
- Moderna is working on a multi-variant booster and an Omicron-specific vaccine, Bancel said.
Between the lines: Moderna's COVID-19 vaccine is the company's only approved product right now.
- Consequently, every coronavirus development significantly affects the company because the vaccine is the company at this point in time.
What to watch: Whether the Biden administration will put more pressure on Moderna to share its vaccine know-how with other companies and organizations.