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Stocks Tumble After Publication Slams Moderna Vaccine Trial Data

Courtesy of ZeroHedge

Yesterday, when digging a little deeper into the Moderna press release we asked if the company's market moving "news" of a coronavirus vaccine wasn't just one giant "bait and switch", especially with the company capitalizing on the massive move higher to immediately sell $1.25BN in stock.

It now appears that may indeed have been the case because moments ago StatNews (best known for peddling pro-Remdesivir news every now and then, and also pushing the market higher), said that Moderna did not produce enough critical data to assess its success.

Commenting on the stock's surge, StatNews' author Helen Branswell wrote asked "was there good reason for so much enthusiasm" and said that "several vaccine experts asked by STAT concluded that, based on the information made available by the Cambridge, Mass.-based company, there’s really no way to know how impressive — or not — the vaccine may be."

Echoing our own skepticism, the report then said that while "Moderna blitzed the media, it revealed very little information — and most of what it did disclose were words, not data. That’s important: If you ask scientists to read a journal article, they will scour data tables, not corporate statements. With science, numbers speak much louder than words."

There is more in the critical report which can be found here, and which largely recaps our own skeptical observations that this was just one bait and switch, but the report sent Moderna stock sharply lower…

… and hit stocks which also briefly plunged to session lows.

Statnews is quite familiar with such report itself, of course, and as a reminder here is what happened to stocks following its own cheerleading of Gilead's remdesivir several weeks ago.

And now we wait for Statnews to turn the tables on Moderna, and publish its own "report" praising remdesivir, even as it becomes clear that such market moving reports of virus vaccines or drugs are nothing more than hot air, and won't amount to anything tangible for months, if not years. 


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