Moderna, Inc. MRNA shares are trading higher Friday after the company received Health Canada approval for the updated COVID-19 vaccine.

What To Know: Health Canada authorized Moderna's updated Spikevax COVID-19 mRNA vaccine targeting the SARS-CoV-2 LP.8.1 variant for individuals six months and older. The company said it is on track to deliver the vaccine in time for the 2025-2026 vaccination season.

All pre-filled syringe doses for the Canadian market will be manufactured domestically for the first time, with drug substance production at Moderna's new facility in Laval, Quebec, and fill-finish operations completed by Novocol Pharma in Cambridge, Ontario. Canadian-made doses are expected to be available this fall.

"This approval is a regulatory milestone and a testament to Canada's growing leadership in biomanufacturing and public health resilience," said Stéphane Bancel, CEO of Moderna.

The vaccine has already been approved by regulators in Europe, Japan, Switzerland and other countries, with additional applications under review worldwide.

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MRNA Price Action: At the time of writing, Moderna stock is trading 4.23% higher at $27.33, according to data from Benzinga Pro.

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