Why Moderna Shares Moved Lower Today

Moderna (NASDAQ:MRNA) shares are trading lower after Japan on Thursday suspended 1.6 million doses of the company's COVID-19 vaccine following contamination reports.

Japan's health ministry said that 'foreign materials' were found in some doses of a batch of COVID-19 vaccines and suspended the batches out of an 'abundance of caution.'

Moderna is a commercial-stage biotech that was founded in 2010 and had its initial public offering in December 2018. The firm's mRNA technology was rapidly validated with its COVID-19 vaccine, which was authorized in the United States in December 2020. 

At the time of publication, shares were trading 4.6% lower at $381.92.