Why Moderna Shares Are Falling

Moderna Inc MRNA shares are trading lower by 5.52% to $162.79 Friday morning after the company released interim Phase 3 safety and immunogenicity results for its mRNA-1010 influenza candidate, which did not achieve non-inferiority for the Influenza B strains.

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What Else?

Moderna says non-inferiority was not met for seroconversion rates and geometric mean titer ratios for the influenza B/Victoria- and B/Yamagata-lineage strains. The company meanwhile says mRNA-1010 showed an acceptable safety and tolerability profile, and is one of five influenza vaccine candidates being evaluated by Moderna.

Stephen Hoge, M.D., Moderna's President, addressed mRNA-1010 and Influenza B in a statement: "While we did not achieve non-inferiority for the Influenza B strains which are more frequent in younger populations, we have already updated the vaccine that we believe could improve immune responses against Influenza B and will seek to quickly confirm those improvements in an upcoming clinical study thanks to the agility of our mRNA platform."

According to data from Benzinga Pro, Moderna Inc has a 52-week high of $217.25 and a 52-week low of $115.03.