Following an 11.7% spike in Tuesday's session, Moderna (NASDAQ:MRNA) shares are on course for a 21% weekly increase as of Wednesday. The leap highlights worries about the possible spread of the H5N1 avian flu followingthe first death connected to it reported from the United States.
Although the Centers for Disease Control and Prevention (CDC) said the fatality happened in Louisiana, they maintained the general public's minimal risk persists. The agency warned anyone who comes into contact with infected animals need to take extra precautions.
To advance its mRNA-based H5N1 vaccine, which is now in early testing, Moderna obtained $176 million in federal money in mid-2024 The prize tracked a viral outbreak among cows that contaminated three dairy workers.
Moderna's stock is still down about 60% from a year ago, showing general post-pandemic difficulties notwithstanding the rebound this week. The company, which projects $7 billion in income for 2023a 64% drop from 2022has seen declining demand for COVID-19 vaccinations. With a net loss of almost $9 per share, analysts project revenues will decrease once more in 2024.
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