Why Moderna Stock Is Sliding Today
Shares of Moderna (NASDAQ: MRNA) were sliding 5.5% lower as of 11:28 a.m. EST on Tuesday. The company announced earlier in the day that it had secured a supply deal with the U.K. for experimental coronavirus vaccine mRNA-1273. Moderna also reported that the European Medicines Agency (EMA) has begun a rolling review of its regulatory filing for approval of the COVID-19 vaccine candidate.
Both of these announcements were positive news for Moderna. So why is the biotech stock falling? The most likely reason is that investors are taking profits off the table after Moderna reported great interim efficacy results from a late-stage study of mRNA-1273 on Monday.
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Source Fool.com
