$32-37 per dose: Moderna prices potential COVID-19 vaccine

A nurse prepares a shot as a study of a possible COVID-19 vaccine, developed by the National Institutes of Health and Moderna Inc., gets underway in Binghamton, N.Y. Who gets to be first in line for a COVID-19 vaccine? U.S. health authorities hope by late next month to have some draft guidance on how to ration initial doses, but it's a vexing decision. (AP Photo/Hans Pennink)

U.S. biotech company Moderna, which is in the late stages of testing a potential COVID-19 vaccine, said Wednesday it is charging between $32-$37 per dose.

Moderna CEO Stephane Bancel said the $32-$37 price range is cheaper "pandemic pricing" for the vaccine and the company is also in discussion for larger volume agreements that will have a lower price.

"We are working with governments around the world and others to ensure a vaccine is accessible regardless of ability to pay," said Bancel. "We're currently in a pandemic as defined by WHO. At Moderna, like many experts, we believe the virus is not going away and there will be a need to vaccinate people or give them a boost for many years to come."

Bancel added that the company defines a small order of the vaccine as "in the millions."

The price range is higher than the $19.50 per dose Pfizer and BioNTech have agreed to with the U.S. government.

Moderna on Wednesday also reported a five-fold increase in revenue for the second quarter.

Based in Cambridge, Mass., Moderna posted total revenue of $66 million for the April-June period ― more than five times its $13 million revenue for Q2 2019. It reported, however, a total net loss of $117 million.

Moderna began a late-stage trial for the mRNA-1273 vaccine candidate last week and expects results as early as October.

Revenue was aided partly by federal grants for development of the vaccine candidate. Moderna received a $483 million federal contract in April to test the candidate and said last month tests have shown a "rapid and strong" immune response against COVID-19.

CEO Stephane Bancel said the company is in discussions with "several countries" for potential mRNA-1273 supply agreements and has so far received $400 million in deposits.

Moderna's vaccine candidate is one of several that have entered stage-three clinical studies in the United States, Europe and China.

World Health Organization Director-General Tedros Adhanom Ghebreysusm said Tuesday there has been vaccine progress but warned there may never be a cure.

"There's no silver bullet at the moment and there might never be," he said. "For now, stopping outbreaks comes down to the basics of public health and disease control. Testing, isolating patients and tracing and quarantining their contacts. Do it all." (UPI)