Moderna stock tumbled Tuesday after Dr. Anthony Fauci reiterated it’s unknown how long immunity from coronavirus vaccines might last.
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Fauci heads up the National Institute of Allergic and Infectious Diseases, which was involved in the testing of Moderna‘s (MRNA) vaccine. Fauci’s commentary came the same day the Food and Drug Administration said data from Moderna’s clinical test of its Covid-19 vaccine “met the pre-specified success criteria.”
It may take a year to determine “what the durability is and whether or not we’re dealing with something that needs to be re-boosted every year,” he said, according to Syracuse.com.
But the FDA said Moderna’s vaccine is safe and effective. The FDA’s comment was part of a briefing package ahead of a key meeting Thursday. In clinical testing, the coronavirus vaccine was at least 94.5% effective two weeks after the second dose in people who’d never had Covid-19.
On the stock market today, Moderna stock toppled 5.1% to 147.22. Shares of Pfizer (PFE) — which already has an authorized coronavirus vaccine — fell 1.3%. BioNTech (BNTX) stock, on the other hand, rose 2.7%. BioNTech is Pfizer’s development partner.
Moderna Stock Dives Ahead Of Key Meeting
Moderna is trailing Pfizer and BioNTech by a week. On Thursday, a panel of independent experts will discuss the benefits and risks of Moderna’s coronavirus vaccine. Then, they will vote on whether to recommend that the full FDA authorize the drug for emergency use.
At an interim analysis, Moderna’s coronavirus vaccine was 94.5% effective at blocking Covid-19 in participants without prior infection. In all participants — regardless whether they previously contracted Covid-19 — the drug was more than 93% effective.
The drug was equally effective across all demographics.
For the first time, however, the FDA noted there may have been one severe case of Covid-19 in participants who received the coronavirus vaccine. That couldn’t be confirmed, but could ding Moderna stock. There were 11 cases among placebo participants.
Coronavirus Vaccine Has Side Effects
Side effects were higher in participants who hadn’t previously contracted Covid-19 than those who did.
After either shot, 9.1% and 16.5% of participants, respectively, reported severe injection site pain or systemic side effects.
Up to 28 days after either injection, 21.9% of participants reported at least one side effect. Severe side effects occurred in 1.2% of participants.
Moderna stock has been on a wild ride in 2020 on enthusiasm for its coronavirus vaccine. On a year-to-date basis, Moderna stock has soared nearly 653%.
Follow Allison Gatlin on Twitter at @IBD_AGatlin.
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