Moderna, Inc. (MRNA) stock is surging 5.03% in intraday trading on Tuesday, following the announcement of a significant regulatory milestone. The U.S. Food and Drug Administration (FDA) has granted approval for Moderna's new COVID-19 vaccine, mNEXSPIKE, sparking investor optimism and driving the stock's upward movement.

The approval of mNEXSPIKE represents a crucial development for Moderna, potentially reinvigorating its position in the COVID-19 vaccine market. CEO Stéphane Bancel emphasized the importance of this achievement, which comes at a time when the company has been facing challenges in diversifying its product pipeline beyond mRNA-based vaccines.

This regulatory win is particularly notable given the recent headwinds Moderna has encountered, including narrower approvals for previous vaccines and increased scrutiny of mRNA technology. The successful development and approval of mNEXSPIKE could help alleviate some concerns about Moderna's ability to innovate and maintain its market position in the evolving landscape of vaccine development. Investors appear to be responding positively to this news, viewing it as a potential catalyst for the company's future growth and stability in the competitive pharmaceutical market.