Why Shares of Moderna Are Up Today
Shares of Moderna (NASDAQ: MRNA) are up 9% as of 2:45 p.m. EDT today, after the Food and Drug Administration (FDA) granted Fast Track designation for mRNA-1345, the company's vaccine candidate for respiratory syncytial virus (RSV). In April, the company provided data showing an 11-fold and 20-fold increase in neutralizing antibodies for RSV-B and RSV-A, respectively, compared with its previous vaccine candidate.
RSV typically produces cold-like symptoms that last for a week or two. However, it does lead to about 58,000 hospitalizations in young children and 177,000 in older adults every year in the U.S. The agency's designation only applies to people over 60 years old.
Image source: Getty Images.
Source Fool.com
