LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz continues its investigation on behalf of Moderna, Inc. (“Moderna” or the “Company”) (NASDAQ: MRNA) investors concerning the Company and its officers’ possible violations of federal securities laws.
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On May 18, 2020, Moderna issued a press release to announce, "positive interim clinical data of mRNA-1273, its vaccine candidate against novel coronavirus," from a Phase 1 study. Specifically, the Company reported that "dose dependent increases in immunogenicity were seen across the three dose levels, and between prime and boost within the 25 µg and 100 µg dose levels."
On this news, the Company's share price increased $13.31, or nearly 20%, to close at $80.00 per share on May 18, 2020.
Following the announcement of positive Phase 1 data, Moderna announced a $1.25 billion secondary public offering of 17.6 million shares of its common stock for $76.00 per share. The offering is expected to close on or about May 21, 2020.
On May 19, 2020, various commentators pointed out information that undermined the "positive" results, including that the reported data concerned only eight subjects from the study.
On this news, the Company's share price fell $8.33, or over 10%, to close at $71.67 per share on May 19, 2020, on unusually heavy trading volume.
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If you purchased Moderna common stock in the secondary public offering, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to firstname.lastname@example.org, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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