Moderna's shares surged over 6% after the FDA reversed its prior decision and agreed to review the company's flu vaccine. This marks a significant development for Moderna as it seeks to expand its mRNA technology beyond COVID-19 vaccines.
The FDA's decision boosted investor confidence, leading to a notable increase in Moderna's stock price. This development could influence the broader biotech sector, especially companies involved in vaccine development.
This move underscores the FDA's willingness to reconsider its stance on emerging vaccine technologies, potentially accelerating the adoption of mRNA platforms for various applications.