Moderna shares continue to fall even as its 3 vaccines enter final stage trials

Moderna Inc. saw its stock continue its downward trajectory on Wednesday morning, slipping by 1.2 percent to $106.21, following a decline of over 3 percent on Tuesday.

The biotech company’s shares have endured a 28% drop over the past year.

Moderna’s 3 vaccines advance

Despite the stock decline, Moderna announced positive clinical trial results for three experimental vaccines targeting various viruses.

These vaccines have progressed to the final stage of studies, indicating a step forward for the company in diversifying its product portfolio beyond COVID-19 shots, which currently constitute its sole commercially available product.

How did the markets react?

Shares of Moderna had initially surged by over 3% in premarket trading on Wednesday following the announcement of the positive trial data.

The company is set to provide further insights into its post-Covid-19 strategy during its fifth annual “Vaccines Day” investor event in Boston.

Moderna aims to capitalize on the estimated $52 billion market for infectious disease shots, including vaccines targeting respiratory diseases and latent viruses.

Targeting latent viruses

Moderna’s CEO Stéphane Bancel highlighted the significance of addressing latent viruses, which can remain dormant in the body and lead to serious health complications later in life.

The absence of approved vaccines for several latent viruses presents an opportunity for Moderna to fill this unmet medical need. The company plans to present new clinical trial data on vaccines targeting latent viruses, including shots against norovirus, Epstein-Barr virus, and the virus responsible for shingles and chickenpox.

Moderna is expanding vaccine portfolio

In addition to COVID-19 vaccines, Moderna is advancing several other vaccine candidates through late-stage clinical trials. These include a combination vaccine for COVID-19 and the flu, a vaccine against cytomegalovirus (CMV), and a jab targeting respiratory syncytial virus (RSV).

The company also revealed plans to introduce a “next-generation” COVID-19 shot, which demonstrated a stronger immune response than its current vaccine in late-stage trials.

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