Why Moderna Stock Trounced the Market Today
Moderna (NASDAQ:MRNA), many investors' top pick among coronavirus stocks, made its shareholders happy with a 3.2% gain on Thursday. That well outpaced the 1.7% gain of the S&P 500 index on the day. A strong recommendation from a Food and Drug Administration panel was the big reason for the jump.
The FDA's vaccine and related biological products advisory committee voted in favor of recommending that the regulator authorize booster shots of Moderna's mRNA-1273 (also known as Spikevax) coronavirus vaccine. The poll result was unanimous, with all 19 panel members making the recommendation.
It should be stressed that an expert committee's recommendation, even a unanimous one, does not obligate the FDA to take the requested action. However, that is typically what happens.
Similar to the recently FDA-authorized …
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