Moderna Inc. Chief Executive Officer Stephane Bancel’s net worth jumped by $170 million Monday after the biotech released encouraging results of its late-stage Covid-19 vaccine trial.
“This is a pivotal moment,” Bancel, 48, said in astatement. The study “has given us the first clinical validation that our vaccine can prevent Covid-19 disease, including severe disease.”
A preliminary analysis of data from more than 30,000 volunteers showed Moderna’s vaccineprevented virtually all symptomatic cases of Covid-19. The Cambridge, Massachusetts-based company’s shares gained 7.9% to $96.44 at 12:45 p.m. in New York.
The biotech’s hotly anticipated immunization has made billionaires of Bancel, board member and Massachusetts Institute of Technology scientist Bob Langer and Harvard University immunologist Tim Springer. The Moderna holdings of Langer and Springer were up about $80 million and $90 million, respectively.
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