Why Moderna Stock Is Rising Today

Moderna, Inc. MRNA shares are trading higher after the EMA Committee for Medicinal Products for Human Use adopted an opinion recommending authorization of the company's updated COVID-19 vaccine in the EU.
 

What To Know: The marketing authorization is for Spikevax, the company's updated COVID-19 vaccine. The next step is for the European Commission to make an authorization decision on the use of the vaccine for autumn/winter 2023.

Clinical data shows an immune response against XBB sublineages XBB.1.5, XBB.1.16, and XBB.2.3.2, in addition to BA.2.86, EG.5 and FL.1.5.1 variants.

"The CHMP's positive recommendation for our updated COVID-19 vaccine is a key milestone given we see increasing transmission of SARS-CoV-2 across Europe. Our updated COVID-19 vaccine generates a strong human immune response against circulating variants, including BA.2.86, EG.5, and FL.1.5.1, and will be a critical tool for protection," said Stéphane Bancel, CEO of Moderna.

News of the opinion coicides with rising COVID cases in the US, which has also caused vaccine stocks to rise in recent weeks.

Related Link: Bristol-Myers Squibb Plans To Double Clinical Pipeline Platforms To Support Long-Term Sustainable Growth

MRNA Price Action: Shares of MRNA were up 4.10% at $113.04 at the time of publication, according to Benzinga Pro.

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