Does This FDA Panel Vote Make Moderna a Buy?
Moderna (NASDAQ: MRNA) has been a leader in the coronavirus vaccine race from the start. It was the first to begin clinical trials of a vaccine candidate. And its COVID-19 vaccine launched second -- just a couple of weeks after the one developed by Pfizer and BioNTech. But there's one area where Moderna has been lagging behind, relatively speaking -- the vaccination of children. The Food and Drug Administration has not yet authorized the Moderna vaccine to be administered to those under 18.
But, here, things are evolving. This week, an FDA advisory panel recommended the authorization of the shots for those 6 through 17, and also for those aged 6 months through 5 years. Moderna shares closed 5.7% higher Wednesday after the news came out late in the afternoon. But does this vote make Moderna a buy?
First, let's consider where Moderna stood prior to this news. The biotech company has fully vaccinated more than 77 million Americans. That gives it the second-biggest share of the U.S. market after Pfizer. Worldwide, it is generating billions of dollars in revenue and profit every quarter from its coronavirus vaccine.
Source Fool.com
