Why Moderna Stock Plunged Today

Moderna (NASDAQ: MRNA) shares fell 9% on Tuesday as biotechnology tested whether its coronavirus vaccine would be effective against a highly contagious new strain of the virus. Investors and the world cheered when a Phase 3 clinical trial showed Moderna's vaccine candidate, mRNA-1273, is 94% effective against COVID-19 and 100% effective against severe forms of the disease. Moderna's share price nearly doubled after the drug maker released data from an interim analysis of the clinical trial in mid-November.

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