Markets already pricing successful Moderna vaccine shot

FILE PHOTO: A sign marks the headquarters of Moderna Therapeutics, which is developing a vaccine against the coronavirus disease (COVID-19), in Cambridge, Massachusetts, U.S., May 18, 2020. REUTERS/Brian Snyder

STAKES are high for the results of Moderna Inc.’s coming Covid-19 vaccine trial. But as far as investors are concerned, the impact may already be in the price of financial assets.

The bar was raised for markets to rally following an announcement by Pfizer Inc. that its vaccine protected 90% of Covid-19 cases in a study, investors and strategists said. Moderna’s version, which uses similar experimental messenger RNA technology, is due to report results imminently.