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Why Moderna Stock Is Moving Lower Today

Moderna Inc (NASDAQ: MRNA) shares are trading lower Thursday as vaccine stocks fall in sympathy with Novavax Inc (NASDAQ: NVAX) following reports the FDA's decision on the company's COVID-19 vacci

Benzinga · 06/09/2022 15:01

Moderna Inc (NASDAQ:MRNA) shares are trading lower Thursday as vaccine stocks fall in sympathy with Novavax Inc (NASDAQ:NVAX) following reports the FDA's decision on the company's COVID-19 vaccine could be delayed.

According to a CNBC report, citing an agency spokesperson, the FDA needs to review changes to Novavax's manufacturing process before it can authorize the company's vaccine.

On Tuesday, a committee of independent FDA vaccine advisors voted to recommend NVX-CoV2373 for Emergency Use Authorization. If the vaccine is ultimately approved, it would be the fourth COVID-19 vaccine to receive full authorization in the U.S. Moderna's COVID-19 vaccine Spikevax was the second vaccine to be approved in the U.S. 

See Also: Cathie Wood Trims Pfizer Stake And Loads Up $25M In Rival COVID-19 Vaccine Maker

Moderna is a commercial-stage biotech company focused on the messenger RNA field.

MRNA Price Action: Moderna has a 52-week high of $497.49 and a 52-week low of $119.01.

The stock was down 8.17% at $136.39 at time of publication. according to data from Benzinga Pro.

Photo: Marco Verch from Flickr.