Moderna stock popped Thursday as a Food and Drug Administration panel of experts met to discuss the merits of its Covid booster shot.
The FDA’s Vaccines and Related Biological Products Advisory Committee will decide whether to recommend a booster from Moderna (MRNA) six months after the second shot. The committee will consider the booster for older Americans and adults at risk of severe Covid due to preexisting conditions or the potential for workplace exposure.
Earlier this week, the FDA offered a glimpse into its thinking on the topic. In a document meant to brief the advisory committee members, the FDA noted all authorized and approved Covid vaccines in the U.S. remain highly effective against severe disease and death.
Still, that day Moderna stock jumped 2%. In midday trading on today’s stock market, shares advanced 2.2% near 328.60.
Moderna Stock Rises
If successful at the advisory committee, the full FDA will make a decision on Moderna’s shot. The FDA isn’t bound by the advisory committee’s recommendation, but it often follows along with the experts’ vote.
Moderna will also have to make its case before the Centers for Disease Control and Prevention. That agency has its own advisory committee of experts.
Pfizer (PFE) and BioNTech (BNTX) recently went through the same process. The CDC’s advisory committee declined to recommend booster shots for adults at risk due to workplace exposure. But the full CDC decided to make the booster available to all older adults, as well as people at risk due to preexisting conditions and the potential for workplace exposure.
Moderna stock leapt more than 3% the following day. The vaccines from Moderna and Pfizer with its partner BioNTech use messenger RNA technology to prompt an immune system response. But in a recent CDC analysis, Moderna’s original two-dose regimen outperformed Pfizer’s in terms of lowering the risk of all Covid.
Shares Between Moving Averages
Follow Allison Gatlin on Twitter at @IBD_AGatlin.
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