Moderna’s shares surged on Thursday. The rise came after the firm reported that it’s developing a two-in-one vaccine booster shot that protects against coronavirus and the seasonal flu.
According to the latest news, the new vaccine, which the firm calls mRNA-1073, combines Moderna’s current COVID-19 vaccine with a flu shot that’s also under development. Remarkably, shares of Moderna increased by more than 5% after the news.
CEO Stephane Bancel announced on Thursday that this is the first step in their novel respiratory vaccine program to develop a single-dose vaccine. Rearkably, it includes a booster against coronavirus as well as a booster against flu.
Bancel also added that the company is making progress on enrolling patients in its rare disease programs. He reported that they are fully into their cancer vaccine trial. He believes this is the beginning of a new age of information-based medicines.
Over 147m of the Moderna shots have been administered in the United States
The announcement came after Moderna’s successful launch of its mRNA-based two-dose COVID-19 vaccine. Notably, it was authorized for emergency use by the Food and Drug Administration (FDA) in December. According to data from the Centers for Disease Control and Prevention, they administered over 147 million of the Moderna shots in the U.S.
As we know, Messenger RNA, or mRNA, technology has been under development for years. However, Moderna’s and Pfizer’s shots are the first time mRNA has been cleared for individuals. COVID-19 vaccines, based on mRNA, work by tricking the body to create a piece of the virus. It triggers an immune response. Analysts say that it’s easier to make than traditional vaccines. Traditional vaccines generally use a dead or weakened virus to produce an immune response.
Bancel previously announced that the firm aimed to have a booster shot for protection against COVID-19 and flu.
Bancel also reported in April that they were trying to get a flu vaccine in the clinic this year and then combine their flu vaccine with their Covid vaccine. Remarkably, people only have to get one boost at the local CVS store every year to protect them from the variant of concern against COVID-19 and the seasonal flu strain.
Moderna also stated on September 9 that it is working on a pediatric vaccine, called mRNA-1365. It would combine vaccines for respiratory syncytial virus and human metapneumovirus.