- Sanofi SA (NASDAQ: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 (NASDAQ:BNTX) – Pfizer Inc (NYSE:PFE) alliance and Moderna Inc (NASDAQ:MRNA).
- Instead, the Company will focus on GlaxoSmithKline plc (NYSE: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.
- Photo by hakan german from Pixabay
Ocean Power Technologies Q4 EPS $(0.10) Up From $(0.13) YoY, Sales $601.00K Up From $551.00K YoY
Ocean Power Technologies (NASDAQ:OPTT) reported quarterly losses of $(0.10) per share. This is a 23.08 percent increase over losses of $(0.13) per share from the same period last year. The company reported $601.00
