Why Moderna Shares Are Rising Today

Moderna Inc (NASDAQ: MRNA) is trading higher Monday morning after the company announced preliminary booster data. 

The company's authorized booster (50 microgram dose of mRNA-1273) increases omicron neutralizing antibody levels approximately 37-fold. Moderna also said a 100 microgram dose increases omicron neutralizing antibody levels approximately 83-fold.

Moderna announced that it plans to continue advancing an omicron-specific booster to clinical trials. The company expects to advance into clinical trials in early 2022.

"The dramatic increase in COVID-19 cases from the Omicron variant is concerning to all. However, these data showing that the currently authorized Moderna COVID-19 booster can boost neutralizing antibody levels 37-fold higher than pre-boost levels are reassuring," said Stéphane Bancel, CEO of Moderna.

Bancel continued, "To respond to this highly transmissible variant, Moderna will continue to rapidly advance an Omicron-specific booster candidate into clinical testing in case it becomes necessary in the future. We will also continue to generate and share data across our booster strategies with public health authorities to help them make evidence-based decisions on the best vaccination strategies against SARS-CoV-2."

From Last Week: Here's Why Moderna May Be Ready To Head Higher Again

MRNA Price Action: Moderna has traded as high as $497.49 and as low as $102.66 over a 52-week period.

The stock was up 7.67% at $317.42 at time of publication.

Photo: mufidpwt from Pixabay.