Moderna, the mRNA vaccine developer, has seen its stock climb nearly 5% in early trading after receiving a $590 million award from the US Department of Health and Human Services (HHS). The funding is intended to accelerate the development of mRNA-based pandemic influenza vaccines and enhance Moderna’s platform capabilities.
The HHS stated that the award will allow Moderna to launch an mRNA influenza vaccine targeting strains currently circulating in cows and birds, which have been linked to several human cases and one death in the US. Although bird flu has not spread between humans, antiviral medicines have shown effectiveness against the illness, with most people experiencing minor symptoms.
Moderna’s stock has faced significant price declines in recent months, falling 14% over the last month and 37% over the past three months. However, this latest development may offer a positive outlook for the company.
Source: https://finance.yahoo.com/news/why-moderna-mrna-stock-advancing-150730949.html