Moderna Inc MRNA shares are trading lower Thursday as vaccine stocks fall in sympathy with Novavax Inc NVAX following reports the FDA's decision on the company's COVID-19 vaccine could be delayed.
According to a CNBC report, citing an agency spokesperson, the FDA needs to review changes to Novavax's manufacturing process before it can authorize the company's vaccine.
On Tuesday, a committee of independent FDA vaccine advisors voted to recommend NVX-CoV2373 for Emergency Use Authorization. If the vaccine is ultimately approved, it would be the fourth COVID-19 vaccine to receive full authorization in the U.S. Moderna's COVID-19 vaccine Spikevax was the second vaccine to be approved in the U.S.
See Also: Cathie Wood Trims Pfizer Stake And Loads Up $25M In Rival COVID-19 Vaccine Maker
Moderna is a commercial-stage biotech company focused on the messenger RNA field.
MRNA Price Action: Moderna has a 52-week high of $497.49 and a 52-week low of $119.01.
The stock was down 8.17% at $136.39 at time of publication. according to data from Benzinga Pro.
Photo: Marco Verch from Flickr.
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