Why Moderna Stock Jumped on Monday
Durable coronavirus stock Moderna (NASDAQ: MRNA) rose by over 3.5% in price on Monday, nearly quadrupling the percentage gain of the S&P 500 index on the day. The move followed news that the company racked up yet another approval from a healthcare authority for a new booster version of its Spikevax coronavirus vaccine.
Late Friday after market hours, Moderna announced that the second of its two bivalent booster vaccines targeting the coronavirus had been authorized for use in Canada. The booster, which includes mRNA encoding for both the original strain and the BA.4 and BA.5 subvariants of the omicron variant, can be administered to recipients 18 years of age and older.
Health Canada, the country's healthcare regulatory agency, granted the authorization barely two months after doing so with the booster's predecessor. This jab targeted both the original strain of the coronavirus and the BA.1 omicron subvariant.
Source Fool.com
