Why Moderna Shares Are Rising

Moderna Inc (NASDAQ: MRNA) is trading higher Friday after the company announced the FDA Advisory Committee unanimously voted in support of Emergency Use for a booster dose of the company's COVID-19 vaccine in the US.

Moderna's booster is half the dose of the first two shots (50 micrograms instead of 100 micrograms).

The EUA is for people aged 65 and older, people aged 18 to 64 who are at high risk of severe COVID-19 and people aged 18 to 64 whose exposure to COVID-19 puts them at risk for COVID-19 complications or severe illness.

The booster dose is to be administered at least six months after completion of the first set of shots.

"This positive recommendation is supported by data on the 50 [microgram] booster dose of our COVID-19 vaccine, which shows robust antibody responses against the original virus, but also against the Delta variant,” said Stéphane Bancel, CEO of Moderna.

Moderna is a pharmaceutical and biotechnology company focused on vaccine technologies based on mRNA. It's mRNA technology was rapidly validated with its COVID-19 vaccine, which was authorized in the United States in December 2020.

MRNA Price Action: Moderna has traded as high as $497.49 and as low as $65.48 over a 52-week period.

The stock was up 2.46% at $340.05 at time of publication.

Photo: Mufid Majnun from Pixabay.