- Moderna (MRNA) stock experienced a dip on Friday following the Food and Drug Administration’s decision to postpone the approval of its RSV vaccine until the end of the month.
- The delay pushes back the potential approval of the vaccine for respiratory syncytial virus by approximately two weeks, with the FDA originally scheduled to make a decision by May 16.
- Despite the setback, Moderna President Stephen Hoge expressed gratitude towards the FDA for their continued efforts and diligence, and emphasized that no issues related to vaccine effectiveness, safety, or quality have been identified that would prevent approval.
Moderna’s RSV vaccine approval delayed, causing a dip in stock prices. However, the company remains optimistic as no issues have been identified that would prevent approval.
Moderna Stock: Trailing Pfizer, GSK
If approved, Moderna’s RSV vaccine would be the third to hit the market this fall, following vaccines from Pfizer (PFE) and GSK (GSK). Both Pfizer and GSK received their approvals last year and launched in the fall. RSV, or respiratory syncytial virus, typically causes cold-like symptoms in most people, but can lead to serious or even fatal lung infections in babies and older adults. GSK and Pfizer’s vaccines, Arexvy and Abrysvo, are approved for people aged 60 and older.
Moderna Stock’s Future Outlook
If the current trend continues, Moderna stock will open back in its buy zone. The shares recently broke out of a cup-with-handle base, surpassing a buy point at 115.89, as per MarketSurge. Despite the delay in approval, the company’s stock remains a viable option for investors, with potential for growth once the RSV vaccine receives approval.
Conclusion
While the delay in approval for Moderna’s RSV vaccine has caused a temporary dip in stock prices, the company remains optimistic about its future prospects. The absence of identified issues related to vaccine effectiveness, safety, or quality bodes well for eventual approval. Investors should keep an eye on Moderna stock, which is likely to bounce back into its buy zone in the near future.
