By Sam Boughedda
Investing.com — Moderna Inc (NASDAQ:MRNA) shares fell 12% on Friday after the company reported data from its phase 1 study of its seasonal flu vaccine candidate, mRNA-1010.
The data showed that the shot successfully boosted titers against all four strains in older and younger adults, even at the lowest dose, and no significant safety concerns were observed.
However, while the drug maker described the results as positive, the data showed that it may not be as strong as existing shots.
Morgan Stanley analyst Matthew Harrison weighed in on the data, stating it is "undifferentiated."
"We believe the market was looking for data which supported clearly better efficacy, such that today's results are likely to pressure MRNA," added Harrison.
Regardless, Moderna CEO Stéphane Bancel was upbeat, saying: "It is encouraging to see that participants in the study who received the 50 µg dose, including older adults, achieved robust increases in geometric mean antibody titers against H1N1 and H3N2, the strains responsible for the vast majority of morbidity and mortality in this age group. We believe our mRNA platform is well-positioned to address the significant unmet need in seasonal flu."
With the company benefitting from its Covid-19 vaccine rollout and the mRNA technology behind it, Moderna is looking to create vaccine shots outside of just Covid-19. The company told investors in September that it is working on developing a single vaccine that combines both the Covid-19 booster and its potential flu shot.