Why Moderna Shares Are Rising Today

Moderna Inc MRNA is trading higher Monday after the U.S. Food and Drug Administration approved the Biologics License Application for SPIKEVAX to prevent COVID-19 in individuals 18 years of age and older.

SPIKEVAX, the company's mRNA Covid-19 vaccine, has now received approval from regulators in more than 70 countries. The vaccine was previously available under Emergency Use Authorization in the U.S.

"The totality of real-world data and the full BLA for Spikevax in the United States reaffirms the importance of vaccination against this virus. This is a momentous milestone in Moderna's history as it is our first product to achieve licensure in the U.S.," said Stéphane Bancel, CEO of Moderna.

Moderna is a commercial-stage biotech company. Its mRNA technology was rapidly validated with its COVID-19 vaccine, which was authorized in the United States in December 2020.

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MRNA Price Action: Moderna has traded as low as $117.34 and as high as $497.49 over a 52-week period.

The stock was up 4.86% at $167.21 at time of publication.

Photo: mufidpwt from Pixabay.