Why Is Moderna Stock Trading Higher On Tuesday?

Tuesday, Moderna Inc MRNA stock is trading higher with a session volume of 8.0 million as per data from Benzinga Pro.

On Friday, Moderna announced ongoing support from the U.S. Department of Health and Human Services (HHS) to accelerate the development of mRNA-based pandemic influenza vaccines.

The award was made through the Rapid Response Partnership Vehicle (RRPV) Consortium with funding from the Biomedical Advanced Research and Development Authority (BARDA), part of the HHS Administration for Strategic Preparedness and Response (ASPR).

Also Read: Moderna Remains Confident Despite Political Concerns Over Vaccine Safety and HHS Nomination

The project will support the late-stage development and licensure of pre-pandemic mRNA-based vaccines. The agreement will also expand clinical studies for up to five additional subtypes of pandemic influenza.

In 2023, Moderna commenced a Phase 1/2 study to generate safety and immunogenicity data of an investigational pandemic influenza vaccine (mRNA-1018) in healthy adults 18 years and older.

The study included vaccine candidates against H5 and H7 avian influenza viruses. Based on the preliminary data from the Phase 1/2 study, Moderna is preparing to advance mRNA-1018 into Phase 3.

The company looks forward to sharing the Phase 1/2 results at an upcoming scientific meeting.

This $590 million award has been funded in whole or in part with federal funds from the Department of Health and Human Services; Administration for Strategic Preparedness and Response (ASPR); Biomedical Advanced Research and Development Authority (BARDA).

Earlier this month, Moderna announced business updates and progress across its pipeline. Moderna says it enters 2025 with a focus on a prioritized portfolio addressing respiratory viruses, rare diseases, oncology, and latent and other viruses.

Price Action: MRNA stock is up 5.75% at $36.02 at last check Tuesday.

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