On Dec. 29, 2020, Moderna confirmed that the Company was engaged in discussions with the government of South Korea to potentially provide 40 million or more doses of the Moderna COVID-19 Vaccine to support South Korea’s aim of providing vaccines to the public as soon as possible. Under the terms of the proposed agreement, distribution would begin in the second quarter of 2021.

The Moderna COVID-19 Vaccine had not been approved or licensed by U.S. Food and Drug Administration (FDA) or any other health authority, but FDA had authorized the vaccine for emergency use in individuals 18 years of age and older.