Why Moderna beat the market on Thursday

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What happened

Barely For The First Time Since The Rise Of The COVID Delta Variant, Star Coronavirus Stock Moderna (NASDAQ: mRNA) well past the S&P 500 index Thursday. On positive if not surprising news, the biotech stock ended the day with a gain of just under 2%, against the index’s marginal improvement.

So what

Moderna’s main stock market news over the past day appears to be its latest submission to the Food and Drug Administration (FDA).

Specifically, biotechnology filed the first booster dose data for its 1273 mRNA coronavirus vaccine after market hours on Wednesday. In doing so, he added that he aimed to repeat the feat with other regulators around the world in a matter of days. This list includes the European Medicines Agency (EMA), which covers the sprawling European Union of 27 countries.

Image source: Getty Images.

“We will continue to generate data and share it transparently to help governments and regulators make evidence-based decisions about future vaccination strategies,” Moderna said, citing CEO Stéphane Bancel.

Like the jab against the Comirnaty coronavirus developed by Pfizer and BioNTech, mRNA-1273 is a two-shot vaccine. So far, the former is the only coronavirus vaccine with full FDA approval in the United States, although the mRNA-1273 nod is likely not too far behind. .

Now what

While Moderna’s submission to the FDA and planned international filings for the recall were fully expected by investors, they serve as a reminder of the company’s still-powerful position near the top of the coronavirus vaccine hill. As such, we can expect more headlines on Moderna in the days, weeks, and possibly months to come.

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Eric Volkman has no position in the stocks mentioned. The Motley Fool recommends Moderna Inc. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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