Moderna Inc
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Health Care : Biotechnology | Large Cap Blend
Company profile

Moderna, Inc. is a biotechnology company that is focused on creating a transformative medicines based on messenger ribonucleic acid (mRNA), to improve the lives of patients. The Company’s mRNA medicines are designed to direct the body’s cells to produce intracellular, membrane, or secreted proteins that have a therapeutic or preventive benefit with the potential to address a range of spectrum of diseases. It is developing vaccines and therapeutics for infectious diseases, immuno-oncology, rare diseases, autoimmune and cardiovascular diseases, independently and with its strategic collaborators. The Company develops technologies that enable the development of mRNA medicines for diverse applications. It has created modalities, including prophylactic vaccines, systemic secreted and cell surface therapeutics, cancer vaccines, intratumoral immuno-oncology, and systemic intracellular therapeutics. The Company develops technologies that enable the development of mRNA medicines.

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Moderna expects the shortage of its updated COVID-19 booster to soon be resolved

7:26 am ET September 22, 2022 (MarketWatch)

Jaimy Lee

Moderna still plans to deliver 70 million doses of its bivalent COVID-19 booster by the end of the year.

Moderna Inc. (MRNA) said Wednesday that it expects to resolve supply issues for its new COVID-19 booster "in the coming days."

Several media outlets reported this week that a shortage of Moderna's updated booster was the result of the U.S. Food and Drug Administration's ongoing inspection of a plant in Bloomington, Ind., that is operated by Catalent Inc. (CTLT). Moderna and Catalent set up an agreement back in 2020 to manufacture Moderna's COVID-19 vaccines.

The inspection has been completed, and the FDA on Tuesday allowed the 10 delayed batches of vaccine to ship, saying in a statement that "the agency has no concerns with the safety, effectiveness, or quality of these batches."

"We continue to see high demand in certain areas of the country," a Moderna spokesperson told MarketWatch in an email. "We anticipate that these availability constraints will be resolved in the coming days."

The company said it still plans to deliver 70 million doses of its bivalent COVID-19 booster by the end of the year. The updated booster -- called a bivalent shot -- protects against the original strain of the virus as well as the BA.4 and BA.5 subvariants of omicron.

The U.S. government so far has shipped more than 25 million doses of the new shots, primarily the bivalent vaccine developed by BioNTech SE (BNTX) and Pfizer Inc. (PFE), according to Reuters.

Other COVID-19 news to know:

-Jaimy Lee


(END) Dow Jones Newswires

September 22, 2022 07:26 ET (11:26 GMT)

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