Why Moderna Stock Jumped Today

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Shares of Moderna (NASDAQ: MRNA) climbed 7% on Monday after the biotech provided investors with a COVID-19 vaccine supply update. 

Moderna boosted its baseline production estimates for its coronavirus vaccine from 500 million to 600 million doses in 2021 while keeping the top end of its manufacturing projections at 1 billion. Moderna expects to make 100 million doses available in the U.S. by the end of the first quarter and a total of 200 million doses by the end of the second quarter. The drugmaker has already delivered 18 million doses to the U.S. government.

Moderna is gearing up to make more of its coronavirus vaccine in 2021. Image source: Getty Images.

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