Moderna said on Tuesday its experimental flu vaccine did not meet the criteria for 'early success' in a late-stage trial, and its shares fell 3%.
BOSTON - Moderna Inc said on Tuesday its experimental flu vaccine did not meet the criteria for"early success" in a late-stage trial, and its shares fell 3%.
That has increased investor scrutiny of Moderna's experimental mRNA-based shots for flu and respiratory syncytial virus . "We have not included enough cases to date at the interim analysis to declare early success," said Moderna executive Raffael Nachbagauer at the meeting. Oppenheimer analyst Hartaj Singh said Tuesday's update removes some near-term optimism around Moderna's flu vaccine.Moderna's pipeline includes an mRNA-based cancer vaccine, which has been shown to work against melanoma in a mid-stage study. The company is expected to share full data for that vaccine later this week at a medical conference.
"We want to continue to invest in our platform, and so that does mean partnerships," he told Reuters.
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