Why Moderna Shares Continue To Climb Higher Today

Moderna Inc MRNA is trading higher on continued strength Monday after the U.S. Food and Drug Administration last week authorized booster doses of the company's COVID-19 vaccine in the US for adults 18 and older.

The booster can be used in all individuals 18 years and older who have completed a primary vaccination with any other authorized or approved COVID-19 vaccine. The booster dose is to be administered at least six months after completion of any primary series COVID-19 vaccination.

"This emergency use authorization comes at a critical time as we enter the winter months and face increasing COVID-19 case counts and hospitalizations across the country," said Stéphane Bancel, CEO of Moderna.

"We thank the FDA for their review, and are confident in the robust clinical evidence that a 50 microgram booster dose of mRNA-1273 induces a strong immune response against COVID-19," Bancel added.

See Also: Could This Vaccine News Help Moderna Stock Recover?

Moderna is a commercial-stage biotech company. The firm's mRNA technology was rapidly validated with its COVID-19 vaccine, which was authorized in the U.S. in December 2020.

MRNA Price Action: Moderna has traded as high as $497.49 and as low as $88.61 over a 52-week period.

The stock was up 8.19% at $285.29 at time of publication.

Photo: mufidpwt from Pixabay.