Moderna Up After Favorable Read on Flu Shot in FDA Briefing Docs

Moderna shares rise as much as 10%, most intraday since May 8, after the FDA released briefing documents on its influenza vaccine that analysts say may signal a favorable outcome.

• Jefferies (hold) analyst Andrew Tsai says “FDA briefing docs for flu vaccine read favorably”
  • Finds “FDA’s tone/analyses in the briefing doc as balanced (e.g. not harsh)”
  • Notes “net-net, flu revenues may not occur until 2027, but a US approval would help grow the topline”
• “FDA briefing documents ahead of the June 18 advisory committee suggest Moderna’s flu vaccine, mFlusiva (mRNA-1010), has a good chance of approval in adults under 65,” ...