Moderna flu vaccine misses 'early success' bar, shares fall, Health News, ET HealthWorld
New Delhi: Moderna Inc said on Tuesday its closely watched flu vaccine did not meet the criteria for early success in a late-stage trial, sending its shares down nearly 6 per cent in early trading. Investors were hoping Moderna would end the trial early if an interim analysis proved that its experimental shot was not inferior to an approved vaccine, which was the main goal of the study. However, the company said it would continue testing the vaccine as there were not enough cases of infection among people who received the shot compared to those who received the other vaccine. An earlier trial had showed that Moderna's shot generated a strong immune response against influenza A strains, but was inferior to the approved vaccine for the less-prevalent influenza B strain. Oppenheimer analyst Hartaj Singh said that Tuesday's update possibly removes the near-term optimism around Moderna's flu vaccine. Moderna has been focusing on its non-COVID vaccines as sales from its coronavirus shot have slumped. It has forecast $5 billion in COVID vaccine sales this year, far less than the $18.4 billion windfall in 2022, due to decreasing demand. The company expects sales in the range of $8 billion to $15 billion in 2027 from its combined respiratory vaccine portfolio, which includes late-stage vaccine candidates for respiratory syncytial virus (RSV), influenza and a next-generation COVID-19 shot. "We remain dubious of the company's ability to reach stated respiratory vaccine franchise guidance," said SVB Securities analyst Mani Foroohar in a note. In January, Moderna said mRNA-1345, its RSV vaccine candidate, was 84 per cent effective at preventing at least two symptoms in older adults. The company expects to file for approval of the RSV vaccine this quarter and launch six major vaccines in the next few years.
Tuesday, April 11, 2023 at 2:39 pm