Moderna, Inc. (NASDAQ:MRNA) shares are trading higher after the company announced the FDA granted Fast Track designation for mRNA-1345, its investigational single-dose mRNA vaccine against respiratory syncytial virus in adults older than 60 years of age.
Respiratory syncytial virus is a common respiratory virus that generally causes cold-like symptoms.
“We are pursuing an mRNA RSV vaccine to protect the most vulnerable populations – young children and older adults,” said Stéphane Bancel, Chief Executive Officer of Moderna.
Moderna, a biotechnology company, develops therapeutics and vaccines based on messenger RNA for the treatment of infectious diseases, immuno-oncology, rare diseases, cardiovascular diseases, and auto-immune diseases.
Moderna’s stock was trading about 5% higher at $363.69 per share on Tuesday. The stock has a 52-week high of $365.60 and a 52-week low of $54.21.
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