Moderna and Merck Stocks Surge Amid US Vaccine Purchase Agreement

Shares of Moderna and Merck have surged in recent trading sessions.

The gains come after news that the US government has agreed to purchase more doses of their COVID-19 vaccines, which are being developed by the companies in partnership with the National Institutes of Health (NIH).

Moderna's stock price has risen 11.5% since Monday, while Merck's has increased by 6.1%

No specific details were provided on the number of doses or the exact terms of the agreement.