Health-care companies rose amid hopes that a Covid-19 vaccine would soon become viable.
Moderna shares rose after the drug developer said it will start a large-scale late-stage phase three clinical trial of its vaccine candidate on July 27 at 87 U.S. locations, many of them in hotspots such as Texas, Arizona, California and Florida, according to clinicaltrials.gov.
The report triggered further gains in the health-care sector and the broad stock market. Vaccine breakthroughs seem likely as Moderna's is one of several products in advanced testing, said Lorenzo Di Mattia, manager of hedge fund Sibilla Global Fund.
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(END) Dow Jones Newswires
July 14, 2020 17:05 ET (21:05 GMT)Copyright (c) 2020 Dow Jones & Company, Inc.