What's Going On With Moderna Stock?

Moderna, Inc. MRNA shares traded higher today after reports suggested the company signed a memorandum of understanding and land collaboration agreement to research, develop and manufacture mRNA medicines in China. The company also announced global regulatory submissions for mRNA-1345.

What To Know: The memorandum of understanding and related land collaboration agreement sets Moderna up to develop drugs exclusively for the Chinese market and not for export.

Moderna also submitted marketing authorization applications for mRNA-1345 with several global agencies, including the European Medicines Agency.

"We are proud to announce these filings for the use of our RSV vaccine candidate, mRNA-1345, in the European Union, Switzerland, Australia, and the U.S. RSV is a major cause of lower respiratory tract infections in older adults and can cause a significant burden to health systems through hospitalizations and emergency care admissions," said Stéphane Bancel, CEO of Moderna.

In January 2023, the U.S. FDA granted mRNA-1345 Breakthrough Therapy Designation for the prevention of RSV-LRTD in adults aged 60 years or older.

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MRNA Price Action: Shares of MRNA closed Wednesday up 1.91% at $124.06, according to Benzinga Pro.

Image by fernando zhiminaicela from Pixabay