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Why Moderna Stock Is on Fire Today

TheMotleyFool

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Shares of messenger RNA (mRNA) vaccine and therapy specialist Moderna (NASDAQ: MRNA) were up by a stately 7.2% as of 12:30 p.m. ET Wednesday as investors responded positively to comments made by CEO Stéphane Bancel.

Speaking Wednesday to reporters in Toyko, Bancel said that Moderna is in talks with the Chinese government about providing vaccines to the country. He declined to say whether or not the biotech has formally applied for approval for its COVID-19 vaccine in China.

Moderna's stock is badly in need of positive catalysts. The biotech's shares have tumbled by 44% year to date over concerns that sales of its COVID-19 vaccine, Spikevax, may start to decline in a big way soon.

Source Fool.com

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