Moderna is funding plans to raise the global supply of COVID-19 vaccine to 3 billion doses by 2022, according to the company’s press release. The company has also raised its 2021 supply forecast to the range of 800 million and 1 billion doses.
Moderna’s decision reflects an expected increased requirement for booster vaccinations in the future.
The drugmaker announced developments for a vaccine that can be stored in alternative formats and can support a 3-month shelf life in refrigerators.
Moderna is also working on a next-generation vaccine whose shelf life can be extended even further.Moderna stock is currently gaining. MRNA: NASDAQ is up 1.94% on premarket.