Pretty simple It's an information molecule Everything else has been used for vaccines We current have been dramatically more complex than this This is a pure information molecule And if you get it safely administered our self know what to do with it they make the antigen that's needed to cause their im to attack any kind of threat including the respiratory virus that we're going after So I think the technology is actually lending itself to deployment globally Doctor Rafael I'm looking at your shares Moderna share is up more than 890% since the end of March last year There's been a huge surge of money into the pharmaceutical industry on the heels of the mRNA advancements and also because there does seem to suddenly be more money for vaccines How much is this going to be consistent that more money will continually be deployed to vaccine development at a time when traditionally this has really seen a dearth of investment Well you're making a good observation in that remarkably the most effective pharmaceutical company which is actually our own immune system that we carry around with every single day Take more lives It stopped like more viruses And it's within us And yet historically we have no real access to being able to use it on our behalf And so occasionally people of their own vaccines over decades of work And that's why it's been the backwaters of the pharma industry I'm very pleased to see that people have seen a proof of concept of what vaccines can do They're innately powerful if you know how to control them And so I think that that money is not just kind of following a short term opportunity but recognizes a real shift in what's possible in our effective our immigration I should also say that another phenomenon is driving that I think the capital that has to do with a shift in its industry from being a rather probabilistic shock ongoing we call it in the industry kind of almost lottery where you've been on a lot of different drugs and maybe one or two out of a 50 naked Versus a gradually more deterministic activity By that I don't mean that everything we do will work But that we should expect many things if not most to work that's just a question of iterating and learning and making better and better products That is not been the investment thesis of the pharmaceutical industry And so I think would be the beginning stages of where this begins to look more like tech and less like this complicated speculative activity that BioTech has been for the 35 years I've been in it Interesting Mister Alfie and it's great to catch up Let's continue this conversation another time There went in on how much that industry is set to change Tom we thought the world would change radically 11 months ago when we had that efficacy data in and around November It was set to open the road open the waiter easterly supply chain issues The world would reopen and Tom It's not quite happen that way has it What I would say John is my amateur study of a lot of pandemics Frankly going back you know hundreds and hundreds of years they always take longer to end That's a great common theme And there's a rationalization to use a baseball metaphor somewhere in shortstop around third base whatever John and football the last 70 minutes on It just goes on forever Sometimes in markets though Thomas you know you don't necessarily need things to get better You just need them to stop getting worse Is that where we are right now that I think that I think so 1% From New York City this morning radio on TV This is Bloomberg I'm Danny klepper with an exclusive BNP Paribas open up Dave for Bloomberg TV and radio from tennis channel Two American stars were the headline makers on day one at Indian Wells What were you as open champion Sloane Stephens was pushed all the way by Britain's Heather Watson before punching her ticket into the second round After a slow start the 2017 winner in New York had to fight back from a set down before eventually getting across the finish line and just under three hours on stadium one Up next for her a first career meeting with compatriot Jesse pakula Later Madison keys blasted kaia kanepi off the court in the opening set that lasted just 15 minutes And despite a more competitive second set the former finalists that flushing Meadows moved on to set up a meeting with Anastasia pavlyuchenkova and round two And don't forget Dennis channel's daily live coverage from the California desert hits the air at one p.m. eastern I'm Danny klopping jerk.