Moderna Stock Slides After Posting Data From Early Flu Vaccine Study – TheStreet

Moderna  (MRNA) – Get Moderna, Inc. Report shares moved lower Friday after the drugmaker posted promising early stage data from its developing seasonal flu vaccine as investors await an update on the efficacy of its Covid vaccine against the newly-identified Omicron variant. 

Moderna said the study showed that its ‘mRNA-1010’ vaccine produced a boost in titers against all four flu strains, even with lower dosages, with no significant side-effects. A phase 2 study is now fully-enrolled, Moderna said, with plans for a phase 3 study also underway. 

The early data, however, appears to match that of rival Novavax  (NVAX) – Get Novavax, Inc. Report, which published updated details from a phase 3 study of its NanoFlu vaccine in September, as well as the Fluzone HD offering from France-based Sanofi  (SNY) – Get Sanofi Report

“Even before the COVID-19 pandemic, approximately three million people died each year due to respiratory infections, and many more are hospitalized or become ill as a result of these viruses,’ said CEO Stephane Bancel. 

“At Moderna, our goal is to limit this suffering with an annual pan-respiratory single dose booster vaccine that is adapted to the circulating strains of SARS-CoV-2, seasonal influenza and RSV,” he added. “We believe our mRNA platform is well-positioned to address the significant unmet need in seasonal flu as evidenced by our new beyond quadrivalent candidates, mRNA-1011 and mRNA-1012, which we believe will expand strain coverage and provide more options for public health officials.”

Moderna shares were marked 7% lower in late-morning trading Friday to change hands at $252.80 each. Novavax shares were marked 4.75% lower at $17 each. 

Earlier this week, Pfizer  (PFE) – Get Pfizer Inc. Report said that a third dose of its Comirnaty coronavirus vaccine provides solid protection against the newly-identified variant, adding that it’s ”highly confident’ it will have an Omicron-specific version available by March.

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