Massachusetts-based biotech company Moderna is preparing for the launch of its potential COVID vaccine. The company has already taken in $1.1 billion in deposits from governments while awaiting the vaccine, the biotech firm said Thursday in its third-quarter earnings report.

“We are actively preparing for the launch of mRNA-1273 and we have signed a number of supply agreements with governments around the world,” Moderna CEO Stephane Bancel said in a press release. “Moderna is committed to the highest data quality standards and rigorous scientific research as we continue to work with regulators to advance mRNA-1273.”

Shares of Moderna (MRNA) gained 7.83% at 3:30 E.T.

Moderna said in its press release that it completed enrollment for its 30,000-participant late-stage trial. As of last week, more than 25,650 participants had received the second of the company’s two-dose vaccine.

Moderna said about 37% of the participants were from diverse communities and 42% were at high risk of severe disease.

Of the trial participants, 53% were male and 47% were female, Moderna reported. The vast majority of participants are over the age of 25, with only 5% in the 18-to-24 age group.

Moderna has already taken in $1.1 billion in deposits for a Covid-19 vaccine that will be launched following the completion of clinical trials and regulatory approval Moderna has already taken in $1.1 billion in deposits for a Covid-19 vaccine that will be launched following the completion of clinical trials and regulatory approval Photo: AFP / Luka GONZALES

On a call with investors Thursday, Bancel said the data and safety monitoring board, will conduct its first analysis to see if the vaccine is safe in November. 

In August, Moderna said it was charging between $32 and $37 per dose for its vaccine for some customers, under cheaper “pandemic pricing.” The company said it was in discussion for larger volume agreements that will have a lower price.

Moderna reported a third-quarter loss of $233.6 million, or 59 cents a share. However, the company brought in $157.9 million in revenue.