Why Moderna Stock Jumped Today
Shares of Moderna (NASDAQ: MRNA) climbed on Monday after the biotechnology leader said it could have a COVID-19 booster vaccine that specifically targets the omicron variant ready by the fall. The company also provided investors with an update on its vaccine sales and drug development pipeline.
As of 3:20 p.m. ET, Moderna's stock price was up more than 8%.
CEO Stéphane Bancel said during an interview on CNBC that Moderna will soon begin clinical trials for its omicron-specific booster shot. The drug could serve as the first of a series of annual boosters designed to specifically target the most prevalent coronavirus strains, as new mutations emerge.
Source Fool.com
