Rovi has expanded its rally on the Stock Exchange thanks to the advances of the Modern American with the vaccine against covid-19. The shares of the Spanish laboratory have risen 6.62% in the trading session on Wednesday, reaching 30.60 euros per share.
Rovi announced a few weeks ago that it had reached an agreement with Moderna for the manufacturing outside the United States of the filling and finishing of the candidate vaccine against covid-19. During the first part of the session, Rovi’s shares were positioned as the most bullish on the entire Spanish Stock Market, reaching 31.3 euros, representing a 9.06% rise.
Finally, Rovi’s titles have earned 90 euro cents. So far this year it has risen 25.41%, which places it in tenth place among the companies with gains on the Spanish stock market. In the middle of the stock market rally, experts warn that Rovi’s increases are not sustainable over time. “The logical thing is that the cuts come or that they enter a lateral phase because they have risen a lot based on expectations of distribution of some medicines that we will see if they go ahead”, explains Jorge del Canto, director of Escueladeacciones.com
Although Rovi’s shares have surpassed 6% revaluations, finally the first place for earnings of the Stock Market has been occupied Reig Jofre, which has advanced 14.2% and its share has earned 46 euro cents, up to 3.7 euros. In the year 46.83% is revalued (sixth place due to gains in the continuous market
Final phase of clinical trials
The modern biotech company has announced that the first results of its research show that the vaccine triggers an immune response with mild side effects. The final stage of the investigation is expected to begin on July 27 with 30,000 volunteers.
“The company is on track to deliver approximately 500 million doses a year and possibly up to a billion doses a year starting in 2021,” Moderna said in a statement. This July, the vaccine will enter the final phase of clinical trials.