Moderna Inc (NASDAQ:MRNA) shares are trading lower following positive data from Pfizer for its COVID-19 oral antiviral treatment candidate.
According to Pfizer:
- PAXLOVID™ was found to reduce the risk of hospitalization or death by 89% compared to placebo in non-hospitalized high-risk adults with COVID-19
- In the overall study population through Day 28, no deaths were reported in patients who received PAXLOVID™ as compared to 10 deaths in patients who received placebo
- Pfizer plans to submit the data as part of its ongoing rolling submission to the U.S. FDA for Emergency Use Authorization (EUA) as soon as possible
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.
Moderna has a 52-week high of $497.49 and a 52-week low of $68.92.
