• Tue. Feb 27th, 2024

Why Moderna Stock Is Surging After Hours

ByAdam Eckert

Jan 17, 2023
Why Moderna Stock Is Surging After Hours

Moderna Inc MRNA shares are trading higher in Tuesday’s after-hours session after the company announced topline data from a Phase 3 trial of the company’s investigational Respiratory Syncytial Virus (RSV) vaccine.

What Happened: Moderna said mRNA-1345, an investigational mRNA vaccine targeting RSV in older adults, met the primary endpoints in a Phase 3 trial of older adults.

One of the primary endpoints measuring vaccine efficacy came in at 83.7% against RSV-associated lower respiratory tract disease as defined by two or more symptoms. Based on the results, Moderna intends to submit for regulatory approval in the first half of 2023.

“These data are encouraging, and represent the second demonstration of positive phase 3 trial results from our mRNA infectious disease vaccine platform after, Spikevax, our COVID-19 vaccine. We look forward to publishing the full data set and sharing the results at an upcoming infectious disease medical conference,” said Stéphane Bancel, CEO of Moderna.

Moderna said it will submit data for peer-reviewed publication and present it at an upcoming scientific meeting.

In addition to mRNA-1345, Moderna noted it’s committed to developing vaccines that target the most significant viruses causing respiratory disease, including COVID-19, influenza and human metapneumovirus.

Moderna is a biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines.

From Last Week: Looking At Moderna’s Recent Unusual Options Activity

MRNA Price Action: Moderna shares are up 5.28% in after hours at $200.75 at time of publication, according to Benzinga Pro.

Photo: Mufid Majnun from Pixabay.

Image and article originally from www.benzinga.com. Read the original article here.