Moderna Inc (NASDAQ:MRNA) shares are reversing course and are higher Tuesday.
UK Expands Authorization: The UK drug regulator — the Medicines and Healthcare Products Regulatory Agency — announced Tuesday it has expanded the authorization given to Moderna's COVID-19 vaccine to include the adolescent population.
"I am pleased to confirm that that the COVID-19 vaccine made by Moderna has now been authorized in 12- to 17-year-olds. The vaccine is safe and effective in this age group," said Dr. June Raine, chief executive of MHRA.
Monday, the stock hit a low of $349, a near-term peak-trough decline of roughly 30% in five sessions, essentially suggesting it is in correction territory.
See also: How to Buy Moderna (NASDAQ:MRNA) Stock
What's Next For Moderna Shares? Given the acute need for vaccine shots as the world grapples with several iterations of the pandemic, there is no doubt Moderna will continue to reap rewards.
Continued outperformance will largely hinge on how well the company can deploy its COVID-19 vaccine largesse in bringing its other pipeline candidates to fruition.
At last check Tuesday morning, Moderna shares were up 2.84% to $384.77.
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