Moderna Inc. (MRNA) said Thursday it had a cash position of about $15 billion as of Aug. 31. The company made the disclosure as it offered an update on its line of product candidates based on mRNA technology, that includes a vaccine against COVID-19, the first Moderna product to win authorization from the U.S. Food and Drug Administration. In a statement released ahead of an R&D day, the company highlighted a new product candidate that would combine a COVID-19 booster with a seasonal flu booster vaccine. The company recently submitted an application to the FDA for approval of its COVID booster shot, and said it saw "robust antibody responses" in a Phase 2 study. Overall, the company has 37 programs in development across 34 development candidates, including 22 in current clinical studies. Shares were flat premarket, but have gained 305% in the year to date, while the SPDR S&P Biotech ETF (XBI) has fallen 6% and the S&P 500 has gained 20%.
(END) Dow Jones Newswires
September 09, 2021 07:27 ET (11:27 GMT)
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