MRNA - Moderna Just Gave Investors Another Reason to Buy the Stock
2024-06-16 09:45:00 ET
Moderna (NASDAQ: MRNA) is best known for its work in the coronavirus vaccine market. That's why the company's stock skyrocketed in the earlier days of the pandemic. It's also why its shares have lagged over the past three years -- its COVID-19 vaccine sales dropped off a cliff.
However, the biotech has been looking to move beyond this therapeutic area. It recently earned approval for a vaccine for the respiratory syncytial virus (RSV). Even more recently, it announced positive clinical news that should have investors excited. Let's look closer at Moderna's latest news and why it matters.
Moderna has been trying to develop several combination vaccines that can inoculate patients against multiple viruses. It's not hard to see the advantages of this approach. First, there is convenience. Getting one shot beats getting two, provided there is no significant drop in efficacy. Second, it has the potential to confer meaningful cost savings. Third, it can increase vaccination rates. Some patients might not be particularly interested in being inoculated against one of the viruses a combination vaccine targets, but by getting said vaccine, they are protected all the same.
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Moderna Just Gave Investors Another Reason to Buy the Stock