General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsModerna unveiled encouraging Covid vaccine results. Then top execs dumped nearly $30 mill of stock.
One of the former top execs of that company was the "vaccine czar" appointed by Donny Bodybags. The "vaccine czar" owns about $10 billion in Moderna stock.
https://www.cnn.com/2020/05/22/investing/moderna-coronavirus-vaccine-stock-sales/index.html
Moderna's chief financial officer and chief medical officer executed options and sold nearly $30 million of shares combined on Monday and Tuesday, SEC filings reviewed by CNN Business show.
The sales occurred after Moderna (MRNA) excited Wall Street before markets opened Monday by announcing encouraging vaccine trial results. Moderna's market value swelled to $29 billion -- even though the company has no marketed products.
Who is surprised by this?
Thekaspervote
(32,796 posts)Squinch
(51,021 posts)certain level.
Still, the company has no products and it is at the center of a stinking conflict of interest.
Looks like a pump and dump pig with lipstick on it.
The Magistrate
(95,255 posts)Insider trading charges ought to be brought.
empedocles
(15,751 posts)crickets
(25,983 posts)hlthe2b
(102,378 posts)It hinges on the very selective spike protein component they chose as their mRNA focus to be more or at least equally antigenic as any other component of the actual virus. If they choose poorly and the antigen-induced antibody is only partially neutralizing, at best they have an ineffective vaccine. At worse, they may well be setting recipients up for an overwhelming and potentially deadly cross-reactive antibody response (antibody-dependent enhancement) when a vaccinee is presented with the actual virus. We saw that with the dengue and respiratory syncytial virus vaccines, although these were recombinant DNA vaccines and not mRNA vaccines, though the risk remains--well after initial safety and efficacy trials suggested they were 'good to go."
So, given all that they have detailed is a press release with no actual data, I have to wonder what, exactly they are seeing.
Mike 03
(16,616 posts)Thanks for posting this.
Roland99
(53,342 posts)Vinnie From Indy
(10,820 posts)gratuitous
(82,849 posts)Don't those company executives know that their stock is going to just go up and up if the vaccine they're developing is legitimate?
Oh.
I think I see the problem here.
Oh well, Billy Barr's Department of Justice won't bother itself about this. They're too busy trying to find out who unmasked Michael Flynn from that report where Flynn's name was never masked.
exboyfil
(17,865 posts)even I (a mid-level engineer) can only trade (the days right after the quarterly reports). Selling after the announcement is better than buying before the announcement (assuming the announcement is truthful).
uponit7771
(90,364 posts)onenote
(42,768 posts)Laelth
(32,017 posts)Most likely, it isnt going to work.
-Laelth