There was good news with Modern (NASDAQ: ARNM) on Tuesday about its closely followed mRNA-1273 coronavirus vaccine candidate. However, comments from a health expert who has the ear of the country regarding the pandemic ended up pushing the stock down. In the end, it had fallen by more than 5%.
The good news first: A briefing filed with the Food and Drug Administration (FDA) revealed that the regulator was leaning toward authorizing mRNA-1273 for general use. This comes two days before the FDA briefing committee meets to discuss whether or not the regulator should turn on that green light.
However, that seems to have been overshadowed by remarks earlier made by senior expert Dr Anthony Fauci, director of the government’s National Institute of Allergy and Infectious Diseases (NIAID). At a health event, Fauci said of coronavirus vaccines in general that it might take a year to determine “what the sustainability is and if we are dealing with something that needs to be reboosted every year. “.
The world is both scared and weary of the coronavirus, and they need hope. What he doesn’t want to hear is that mRNA-based vaccines like Moderna’s are still very new on the scene and that “some form of normalcy”, according to Dr Fauci, might not. be possible before fall 2021. Still, that’s a sober and realistic assessment, and shouldn’t be hailed as bad news or unexpected worth a sale.