Moderna
said Tuesday an independent data board has deemed it too soon “to declare early success” in one of the biotech’s flu vaccine trials, due to a lack of sufficient cases.
The board recommended the company continue testing the mRNA vaccine.
Moderna (ticker: MRNA) gave several other updates on its mRNA portfolio of vaccines Tuesday, including candidates against Lyme disease—the biotech company’s first bacterial vaccine.
Investors, however, appeared to focus on the flu vaccine news, despite other positive updates. Moderna stock slid 5.8% to $150.85 Tuesday after the company’s new release. So far this year, the stock has lost about 16%.
Moderna also provided details on its continued work to combat Covid-19. The biotech company said its “next-generation, refrigerator-stable” Covid vaccine showed “encouraging results in multiple clinical studies,” serving as an example of how vaccines will keep pace with new variants. A Phase 3 trial for the shot recently started, it added.
The biotech said it “expects six major vaccine product launches” over the next few years, all with have sizable markets. “The annual global endemic Covid-19 booster market alone is estimated…to be approximately $15 billon,” Moderna added.
Moderna also said it estimates sales of its vaccines that deal with respiratory problems—including RSV and influenza—to be between $8 billion and $15 billion in 2027.
Write to Emily Dattilo at [email protected]
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