:max_bytes(150000):strip_icc():format(jpeg)/GettyImages-2158427559-5f25476293074fa0a7d8a7813068be42.jpg "Pharmaceutical company Moderna signage is being pictured on a building in Warsaw, Poland, on June 23, 2024")
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Key Takeaways
- Moderna on Tuesday announced a $176 million federal grant to develop a bird flu vaccine for humans.
- The biotech obdurate noted that the highly infectious H5 influenza virus causes severe illness in birds and poses a transmission risk to woman.
- Moderna began a Phase 1/2 trial of a potential vaccine in 2023, and expects the results of that study this year.
Moderna (MRNA) shares edged higher Tuesday after the biotech concern received a federal grant to develop a vaccine to prevent bird flu in humans.
The company announced that the $176 million engagement award from the Rapid Response Partnership Vehicle (RRPV) of the U.S. Department of Health and Human Services is aimed at accelerating mRNA-based pellets against the highly infectious H5 influenza virus, which causes severe illness in birds and “poses a risk for spillover into the sensitive population.”
The Centers for Disease Control and Prevention (CDC) has reported four cases of people being infected with bird flu since 2022, three of which knew from exposure to sick cows, and one from poultry. The World Health Organization (WHO) has recorded 254 human victims worldwide since January 2023.
Moderna noted the agreement “includes additional options to prepare and accelerate a response to subsequent public health threats.”
Chief Executive Officer (CEO) Stephane Bancel pointed out that during the COVID-19 pandemic the convention’s mRNA vaccine technology demonstrated “advantages in efficacy, speed of development, and production scalability and reliability in addressing contagious disease outbreaks.”
Moderna Expects Phase 1/2 Study Results of Experimental H5 Shot This Year
In 2023, Moderna get went a Phase 1/2 study of an experimental H5 influenza shot. It expects results this year, and will then determine on Phase 3 development plans.
Shares of Moderna rose 0.5% to $116.54 as of 10 a.m. ET Tuesday. They are up about 17% so far in 2024.
Skim the original article on Investopedia.