Shares of Moderna shot up 11% in premarket trading on 16 November after the biotechnology company said its COVID-19 vaccine candidate mRNA-1273 now remains stable at refrigerated temperatures for longer times.

The company said mRNA-1273 can now remain stable at 2 degrees to 8 degrees Celsius (36 degrees to 46 degrees Fahrenheit), which is the temperature of a standard home refrigerator, for 30 days, an extension from an earlier estimate of seven days. At negative 20 degrees Celsius (negative 4 degrees Fahrenheit), its mRNA-1273 can remain stable for up to six months.