March 29th 2024.
The latest update from Moderna has people excited about the potential for a stronger and longer-lasting Covid vaccine. This new vaccine has shown promising results in its third phase trial, which involved over 11,400 participants aged 12 and older from the United States, United Kingdom, and Canada. The data revealed that the new shot produces a higher immune response against the omicron subvariants BA.4 and BA.5, as well as the original strain of the virus. This is a significant improvement compared to the current vaccine being offered.
One of the most notable benefits of this new vaccine is its effectiveness in older adults, who are at a higher risk of severe illness from Covid. With a higher success rate than the current vaccine targeting the same variants, this news brings hope for better protection for those in the most vulnerable age group.
Currently, Moderna's Spikevax is the only commercially available Covid vaccine. This success has put them in a competitive position with Pfizer to capture more of the vaccine market. Additionally, Moderna is also looking to diversify its revenue streams after experiencing a decline in demand for Covid products last year.
One of the most significant advantages of the new vaccine is its longer shelf-life when refrigerated, making it easier to distribute globally, especially in areas with limited freezing capabilities. Another crucial aspect of the new shot is its ability to target both Covid and the flu. Both Moderna and Pfizer have acknowledged the convenience and added encouragement for people to get vaccinated against both viruses simultaneously.
Despite this positive development, Moderna's stock prices have not seen a significant increase. According to Quartz, the company's stocks dropped by almost 3% during afternoon trading on Mar. 26, adding to a 28% decline over the past 12 months. However, Moderna did report a profit of $217 million in the fourth quarter, but their current product has still experienced a decline in the market share.
However, this setback has not stopped Moderna from pushing forward in their fight against diseases. They have announced plans to develop a vaccine that can combat the flu, cancer, and other illnesses. Furthermore, their vaccine for respiratory syncytial virus (RSV) is expected to receive FDA approval by May 2024. This news was first announced during their annual research and development day in September 2023, where they also revealed their plans to launch 15 new products over the next five years.
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