Moderna handed $483m by US government to speed up Covid vaccine, stock jumps

American biotech Moderna said the US government will fund the development and manufacture of a potential vaccine for Covid-19 in a deal worth up $483m. The Biomedical Advanced Research and Development Authority (BARDA), part of the US Department of Health and Human Services, will fund development of the vaccine mRNA-1273 up through approval by US regulators…

Gilead Sciences

Gilead Sciences anti-virus drug performs strongly in early tests, stock soars

Siraj Sarwar

Gilead Sciences (NYSE: GILD) stock price bounced after the Chicago-based hospital treating severe coronavirus patients using Gilead Sciences’ antiviral medicine remdesivir said 123 out of 125 patients on the drug were discharged from hospital in less than a week. All these patients were treated with daily doses of Gilead’s remdesivir. “The best news is that…

US earnings season: Investors braced for brutal sessions with trading at some S&P 500 firms down by more than 50%

Roger Baird

The S&P 500 closed 1 per cent down on Monday as investors prepare for the most brutal earnings season in recent memory as firms report trading in a period hamstrung by the coronavirus. US top stocks slipped 28.19 points in trading to 2,761.63, as the biggest companies in the country prepare to post first-quarter figures…

US-Listed Chinese Companies Suffer on News of Luckin Coffee Fraud

Galina Mikova

The disclosure of the fraud by Luckin Coffee has had an adverse effect on the majority of Chinese companies listed on United States exchanges, Financial Times reported on Sunday. “It makes you question the whole system, honestly,” the Citron Research founder Andrew Left told the FT. “It just shows you the lack of controls; you obviously…