This Stock Has Already Doubled This Year and Is Still Racing Towards a Major Catalyst
Yahoo Finance ·
Moderna ( MRNA 1.03% ) has been on fire this year. As of this writing, the company's shares have slightly more than doubled to date. What's more, the biotech has an important catalyst on the horizon. Let's find out whether there is any upside left for the company. Moderna has been working on an influenza vaccine, mRNA-1010. It submitted regulatory applications for this candidate earlier this year. The U.S. Food and Drug Administration (FDA) should approve or reject Moderna's application by Aug. 5. It's an important date for the biotech company , as an approval in this field might allow it to establish itself as a leader in the flu market. True, plenty of flu vaccines exist, but their efficacy is usually not very impressive, typically between 40% to 60% in the U.S. In phase 3 studies, mRNA-1010 performed better than approved vaccines in patients aged 50 and older who tend to be more at risk of severe cases of the disease, hospitalization, and death. And if there was any doubt about whether mRNA-1010 would get the FDA's green light, recent developments have made that outcome practically certain. Members of an advisory committee convened by the FDA to give their opinion on whether mRNA-1010 should earn approval unanimously voted in favor. The health regulatory agency doesn't always follow the advice of these experts, but it almost always does. It would be surprising if mRNA-1010 doesn't get the nod.
DYAX Investor Sentiment
Bullish (Long) 34% · Bearish (Short) 66%
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