FDA Approves Moderna's mRNA Flu Shot for Adults 50+, Launch Imminent
MRNA has more than doubled off its 52-week low of $22.28.
Summary
The FDA approved Moderna's influenza vaccine mFlusiva for adults 50 and older, marking the first mRNA flu vaccine approval. Supply is expected to hit select retailers in weeks, enabling a timely launch ahead of flu season. This approval follows a unanimous advisory committee vote in June and a positive staff review, and it adds a second commercial product to Moderna's portfolio beyond its COVID vaccine. The approval comes as Moderna works to offset a $782M Q2 loss and the recent norovirus vaccine failure, potentially providing a much-needed revenue stream.
At the time of this announcement, MRNA was trading at $56.40 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $22.5B. The 52-week trading range was $22.28 to $85.60. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.