Moderna stock drops on weak flu vaccine data

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Moderna stock drops on weak flu vaccine data

24-12-2021 15:39

Moderna stock drops on weak flu vaccine data

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Moderna stock drops on weak flu vaccine data

While everyone focuses on the new Omicron strain, the usual seasonal flu continues affecting people’s lives and financial indicators of vaccine producers.

Official data on the effectiveness of Moderna’s experimental seasonal flu vaccine negatively affected the company’s shares. The trial results turned out to be unclear, thus leading to a 14.06% drop in the drugmaker's stock. Thus, the share price declined to $233.95 from $272.21. A bit later, the price recovered to $247.93 per share. It appeared that the Moderna shot raised antibodies to the same level as the vaccine from Sanofi, which is already in the market. However, side effects of the new vaccine turned out to be worse than that of the existing one. “We believe the market was looking for data which supported clearly better efficacy,” Morgan Stanley analyst Matthew Harrison said.

Investors bet on the drug, supposing that the vaccine against flu could become a new source of income for Moderna. Notably, the company is also specialized in the Covid-19 vaccine development.

The company expected a quick approval from the regulator, but disappointing trial results made it change its plans. Results of the next stage of trials will be published at the beginning of 2022.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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