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Moderna said on Wednesday it would stop developing its experimental vaccine to prevent cytomegalovirus, a virus that can cause birth defects, after it failed to meet the main goal of a late-stage trial. Shares of the drugmaker were down 3.7% in overnight trading following the news.
The late-stage trial tested the vaccine, mRNA-1647, in about 7,500 women aged 16 to 40. The shot showed efficacy ranging between 6% and 23%, depending on how the cases were defined, which was below Moderna's target.
Some rare earth stocks jumped in overnight trading. American resources up over 3%; USA Rare Earth up nearly 3%; Critical Metals, UAMY up over 1%.