Why Moderna Shares Are Trading Higher Today

Moderna Inc MRNA is trading higher Friday after the company announced the U.S. Food and Drug Administration authorized its booster dose of COVID-19 vaccine in the U.S. for adults 18 and older.

The booster can be used in all individuals 18 years and older who have completed a primary vaccination with any other authorized or approved COVID-19 vaccine. The booster dose is to be administered at least six months after completion of any primary series COVID-19 vaccination.

"This emergency use authorization comes at a critical time as we enter the winter months and face increasing COVID-19 case counts and hospitalizations across the country. We thank the FDA for their review, and are confident in the robust clinical evidence that a 50 microgram booster dose of mRNA-1273 induces a strong immune response against COVID-19," said Stéphane Bancel, CEO of Moderna.

See Also: Can Moderna Deliver A Highly Effective Flu Vaccine?

Moderna is a commercial-stage biotech company. The firm's mRNA technology was rapidly validated with its COVID-19 vaccine, which was authorized in the U.S. in December 2020.

MRNA Price Action: Moderna has traded as high as $497.49 and as low as $88.61 over a 52-week period.

The stock was up 6.45% at $267.60 at time of publication.

Photo: mufidpwt from Pixabay.