Moderna (NASDAQ: MRNA) Moderna (NASDAQ: MRNA) July weekly call option implied volatility is at 97, August is at 102; compared to its 52-week range of 51 to 172 into Biomedical Advanced Research and Development Authority, or BARDA, making an additional commitment of up to $472M to support late stage clinical development including the expanded Phase 3 study of the company's mRNA vaccine candidate against COVID-19.