Sanofi Stops Work On Its mRNA COVID-19 Vaccine: What You Need To Know - Moderna (NASDAQ:MRNA), Pfizer (NYSE:PFE), BioNTech (NASDAQ:BNTX), Sanofi (NASDAQ:SNY)

Sanofi SA SNY is dropping plans for its mRNA-based COVID-19 vaccine because it believes it will be too late in reaching the market, STAT news reported.
Sanofi says that the market is well-served with the dominant role of BioNTech SE BNTX - Pfizer Inc PFE alliance and Moderna Inc MRNA.
Instead, the Company will focus on GlaxoSmithKline plc GSK-partnered protein-based COVID-19 vaccine candidate.
Related Content: Sanofi, GSK Start Final Testing Phase Of COVID-19 Vaccine.
The decision to drop clinical development of the mRNA shot, acquired as part of its takeover of Translate Bio, came despite positive Phase 1/2 interim study results.
Related Link: Sanofi Bets Big On mRNA Push With Translate Bio Acquisition For $3.2B: Highlights
The Company said it started testing an mRNA shot against seasonal influenza in humans in June and will launch follow-on clinical studies next year.
Interim results from the Phase 1/2 trial showed that neutralizing antibody levels increased four-fold two weeks after a second injection across all 3 dosages tested.
No safety concern has been observed, and the tolerability profile is comparable to that of other unmodified mRNA COVID-19 vaccines.
Also Read: Analyst Upgrades Sanofi On COVID-19 Vaccine Optimism.
Price Action: SNY stock is up 0.17% at $48.20 during the premarket session on the last check Tuesday.
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