Moderna skyrockets 11% after receiving additional $472 million of funding, starting Phase 3 trial of COVID-19 vaccine

• Moderna on Sunday announced it received a commitment of up to $472 million in additional funding from its contract with the Biomedical Advanced Research and Development Authority. 
• The company on Monday announced that the Phase 3 trial for its COVID-19 vaccine had started dosing participants. 
• Shares of Moderna surged as much as 11% in premarket trading Monday 
• Watch Moderna trade live on Markets Insider. 
• Read more on Business Insider. 

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Shares of Moderna surged as much as 11% in premarket trading Monday after the company announced a new round of funding and the start of the Phase 3 trial for its coronavirus vaccine candidate. 

On Sunday, Moderna announced an additional round of $472 million in funding to "support late stage clinical development including the expanded Phase 3 study of the Company's mRNA vaccine candidate (mRNA-1273) against COVID-19," according to a statement.

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