Moderna, Inc. (MRNA) saw its stock soar by 5% during intraday trading on Monday, continuing its recent outperformance streak. The biotech company has been gaining momentum following several positive developments.

Last week, Moderna announced it would receive up to $54.3 million in funding from a global coalition to support the late-stage development of its experimental bird flu vaccine. Additionally, the company secured a five-year loan facility for up to $1.5 billion in November, targeting up to 10% revenue growth next year. These financial boosts have bolstered investor confidence.

Further supporting the stock, the U.S. Food and Drug Administration (FDA) confirmed it has no plans to impose a "black box" warning on COVID-19 vaccines, easing concerns about potential regulatory hurdles. Despite recent gains, Moderna's stock remains down ~15% year-to-date, reflecting ongoing investor caution.