Key Takeaways
- Moderna received a $590 million award from the U.S. government to speed development of a vaccine that could be used to fight bird flu.
- The biotech firm’s mRNA-1018 candidate posted positive results in a Phase 1/2 study launched in 2023.
- Moderna plans to move mRNA-1018 to a Phase 3 trial.
Shares of Moderna (MRNA) took off Tuesday when the biotech firm announced that the U.S. government has awarded it more than a half a billion dollars to develop a vaccine that can be used against bird flu.
The company said the $590 million grant from the U.S. Department of Health and Human Services was aimed at accelerating development of “mRNA-based pandemic influenza vaccines,” including mRNA-1018.
Moderna explained that it began Phase 1/2 testing of mRNA-1018 in 2023 in healthy adults aged 18 and up, including candidates against the H5 and H7 avian influenza viruses. It noted that based on positive preliminary results, it was launching a Phase 3 study.
The Centers for Disease Control and Prevention (CDC) reported that bird flu “is widespread in wild birds worldwide and is causing outbreaks in poultry and U.S. dairy cows with several recent human cases in U.S. dairy and poultry workers.” It noted that while the current public health risk is low, it is monitoring the situation carefully.
Eggs Prices Rising Because of Bird Flu, Cal-Maine Foods Says
Earlier this month, Cal-Maine Foods (CALM), the biggest U.S. egg producer, said egg prices have continued to rise because of limits on production because of the bird flu outbreak.
Even with today’s roughly 5% increase, Moderna shares remain nearly 65% lower over the last year as COVID-19 vaccine sales slump.
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Moderna Stock Soars as Biotech Company Receives $590M Funding to Develop Bird-Flu Vaccine
In a groundbreaking move, Moderna, a leading biotech company, has received a whopping $590 million in funding from the US government to develop a vaccine for bird flu. This significant investment has caused Moderna’s stock to skyrocket, with investors showing confidence in the company’s ability to tackle this deadly virus.
The bird flu, also known as avian influenza, is a highly contagious virus that can be transmitted from birds to humans, posing a serious threat to public health. With the recent outbreaks of bird flu in various countries, the need for an effective vaccine has never been more urgent.
Moderna, known for its innovative mRNA technology, is well-equipped to develop a vaccine that could potentially save millions of lives. The company’s track record of success in developing vaccines, including its highly effective COVID-19 vaccine, has further bolstered investor confidence in its ability to combat the bird flu.
The $590 million funding from the US government is a testament to the importance of developing a vaccine for the bird flu and the government’s commitment to supporting innovative solutions to public health crises. This partnership between Moderna and the US government is a step in the right direction towards safeguarding the global population from the threat of bird flu.
As Moderna’s stock continues to rise, it’s clear that investors are optimistic about the company’s potential to make a significant impact in the fight against the bird flu. With this funding and support, Moderna is well-positioned to lead the way in developing a safe and effective vaccine that could save lives around the world.
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