What Happened?
Shares of biotechnology company Moderna (NASDAQ: MRNA) jumped 4% in the morning session after the company announced it would receive up to $54.3 million in funding from the Coalition for Epidemic Preparedness Innovations (CEPI) to advance a late-stage trial for its experimental bird flu vaccine.
The funding was earmarked to support a pivotal Phase 3 clinical trial for Moderna's investigational mRNA-based H5 pandemic influenza vaccine candidate, known as mRNA-1018. This development marked a significant step toward getting the vaccine licensed. If successful, it would be the first mRNA-based bird flu vaccine to complete a pivotal trial. The study was planned to begin in early 2026. The investment from CEPI was seen as a key step in global pandemic preparedness for one of the world's most pressing health threats.
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What Is The Market Telling Us
Moderna’s shares are extremely volatile and have had 51 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was about 24 hours ago when the stock gained 4% on the news that the broader biotech sector experienced a strong rebound, lifting shares of companies within the industry.
According to RBC Capital Markets, the sector's positive momentum was helped by good clinical data, successful new drug launches, and a significant increase in merger and acquisition (M&A) activity. The brokerage noted that M&A deals in 2025 had more than doubled compared to the previous year, with expectations for deal-making to remain strong. Separately, Moderna announced that it would present at the 44th annual J.P. Morgan Healthcare Conference in January.
Moderna is down 23.7% since the beginning of the year, and at $32.04 per share, it is trading 32.6% below its 52-week high of $47.53 from January 2025. Investors who bought $1,000 worth of Moderna’s shares 5 years ago would now be looking at an investment worth $228.47.
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