Why Moderna's Stock Is Trading Higher Today

Moderna, Inc. MRNA shares are trading higher after the company announced the FDA granted Fast Track designation for mRNA-1345, its investigational single-dose mRNA vaccine against respiratory syncytial virus in adults older than 60 years of age.

Respiratory syncytial virus is a common respiratory virus that generally causes cold-like symptoms.

"We are pursuing an mRNA RSV vaccine to protect the most vulnerable populations – young children and older adults," said Stéphane Bancel, Chief Executive Officer of Moderna.

Moderna, a biotechnology company, develops therapeutics and vaccines based on messenger RNA for the treatment of infectious diseases, immuno-oncology, rare diseases, cardiovascular diseases, and auto-immune diseases.

Moderna's stock was trading about 5% higher at $363.69 per share on Tuesday. The stock has a 52-week high of $365.60 and a 52-week low of $54.21.

See also: How to Buy Moderna MRNA Stock