Why Is Moderna Stock Moving Higher Today?

Moderna Inc MRNA shares are trading higher Monday after the company's COVID-19 booster was granted conditional authorization in the UK.

The Medicines and Healthcare products Regulatory Agency (MHRA) has granted conditional authorization for the use of the Omicron-containing bivalent COVID-19 booster vaccine, mRNA-1273.214 as a booster dose in individuals 18 years of age and older. 

In the phase 2/3 trial, mRNA-1273.214 met all primary endpoints, including superior neutralizing antibody response against omicron (BA.1) when compared to a 50 microgram booster dose of mRNA-1273 in baseline seronegative participants. 

"mRNA-1273.214 has consistently shown superior breadth of immune response over mRNA-1273 in clinical trials. This bivalent vaccine has an important role to play in protecting people in the UK from COVID-19 as we enter the winter months," said Stéphane Bancel, CEO of Moderna.

Moderna has completed regulatory submissions for mRNA-1273.214 in Australia, Canada and the EU and expects further authorization decisions in the coming weeks.

See Also: Landmark Drug Pricing Reform Bill Passes Congress House

MRNA Price Action: Moderna has a 52-week high of $249.42 and a 52-week low of $115.61.

The stock was up 2.73% at $175.85 at press time, according to Benzinga Pro.

Photo: Mufid Majnun from Pixabay.