What's Going On With Moderna Stock Wednesday?

Moderna Inc MRNA shares are trading higher Wednesday after the company announced that MRNA-1283 met the primary endpoints in its Phase 3 clinical trial. Additionally, Blackstone Life Sciences announced an investment to support the company’s influenza program.

What Happened: Moderna held its fifth Vaccines Day event this week and announced clinical and program updates demonstrating advancement and acceleration of its mRNA pipeline. The company said multiple vaccine programs have advanced to late-stage clinical trials.

Moderna on Tuesday announced that its next-generation COVID-19 vaccine mRNA-1283 demonstrated a higher immune response against SARS-CoV-2 when compared to Moderna’s licensed COVID-19 vaccine mRNA-1273.222.

“We are excited to announce our fourth infectious disease vaccine program with positive Phase 3 data, further validating our robust mRNA platform,” said Stéphane Bancel, CEO of Moderna.

“mRNA-1283 is a critical component of our combination vaccine against flu and COVID-19, mRNA-1083, and this milestone gives us confidence in our ability to bring this much needed vaccine to market.”

Check This Out: Cathie Wood’s Ark Invest Continues To Double Down On Moderna, Sells Nvidia Shares

On Wednesday, Blackstone announced a new collaboration with Moderna through a development and commercialization funding agreement in which Blackstone Life Sciences will provide up to $750 million to fund Moderna’s flu program.

“Moderna has demonstrated a remarkable ability to impact human health through mRNA vaccines targeting respiratory illnesses. This landmark collaboration is another example of our long-standing strategy to partner with the world’s leading life science companies to advance their critical path vaccines, medicines and medical technologies to patients,” said Nicholas Galakatos, global head of Blackstone Life Sciences.

MRNA Price Action: Moderna shares were up 3.72% at $111.41 at the time of publication, according to Benzinga Pro.

Photo: Lutsenko_Oleksandr from Shutterstock.