Moderna, Inc. (MRNA) shares surged 5.05% in pre-market trading on Tuesday, following the company's announcement of a significant regulatory development. The biotechnology firm has filed an application with the U.S. Food and Drug Administration (FDA) for the review of its Spikevax formula, which targets the SARS-CoV-2 variant LP.8.1.
This move demonstrates Moderna's continued efforts to adapt its COVID-19 vaccine to emerging variants, potentially positioning the company to maintain its strong market presence in the ongoing fight against the pandemic. The positive market reaction suggests investors are optimistic about the potential approval and subsequent demand for this updated vaccine formulation.
Adding to the positive sentiment, Moderna also announced its upcoming participation in two major healthcare conferences. The company will present at the Jefferies Global Health Care Conference on June 5th and the Goldman Sachs 46th Annual Global Healthcare Conference on June 11th. These high-profile appearances provide Moderna with platforms to showcase its latest developments and future strategies, potentially further boosting investor confidence.
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