Moderna (MRNA) Stock Testing Near-term Support as Initial Flu Vaccine Data Disappoints

Shares of Moderna Inc. (NASDAQ: MRNA) fell more than 6% Tuesday after the biotech firm said its flu vaccine candidate did not accumulate enough data to declare early success.

In the business update shared today, hours before the company hosts its 4th Vaccine Day, Moderna said that the independent Data and Safety Monitoring Board (DSMB) advised continuing testing the vaccine as no safety concerns were identified. 

Moderna’s flu vaccine candidate (mRNA-1010) didn’t manage to accrue enough data for the testing to be stopped by the regulator. Compared to licensed alternatives, the flu vaccine candidate managed to show titers consistent with superiority against influenza A strains and non-inferiority against influenza B strains, Moderna said.

“With mRNA-1010, our first investigational vaccine against seasonal flu, we are encouraged by the consistently strong immunogenicity results against influenza A, and titers consistent with non-inferiority against influenza B strains in the most recent Phase 3 trial. With our mRNA platform and technology, as well as our agile manufacturing capabilities, we are confident that we can quickly develop safe and effective vaccines to address critical unmet needs,” commented Stephane Bancel, Chief Executive Officer of Moderna.

In other business updates, Moderna informed investors that it should file for approval of its RSV vaccine candidate, mRNA-1345, during the second quarter of this year. The biotech business projects respiratory product sales in 2027 to be between $8 billion to $15 billion.

Moreover, the company announced it will develop vaccine candidates against Lyme disease as part of its strategy to launch six major vaccine products in the next few years.

Following today’s update, investors are likely to shift their focus toward the expected results for the melanoma vaccine developed by Moderna and Merck, expected next week.

Moderna shares are down almost 16% year-to-date (YTD).