Moderna Stock Jumps as Biotech Gets $590M From US To Develop Bird-Flu Vaccine | Global News Avenue

Moderna stock (messenger RNAOn Tuesday, the biotech company announced it had been awarded more than $500 million by the U.S. government to develop a vaccine that could be used to fight avian influenza.

The company said the $590 million grant from the U.S. Department of Health and Human Services is intended to accelerate the development of “mRNA-based pandemic influenza vaccines,” including mRNA-1018.

Moderna explains it started 1/2 phase testing By 2023, levels of mRNA-1018 will increase in healthy adults 18 years and older, including candidates for H5 and H7 avian influenza viruses. It noted that based on positive preliminary results, it is initiating a Phase 3 study.

The U.S. Centers for Disease Control and Prevention (CDC) reports that avian influenza “is widespread among wild birds around the world and has caused outbreaks in poultry and U.S. dairy cattle, with several recent human cases occurring among U.S. dairy farms and poultry workers. “It noted that while the current public health risk is low, the situation is being carefully monitored.

Cal-Maine Foods says egg prices rise due to bird flu

Earlier this month, California Maine Foods Inc.calm), the largest egg producer in the United States, explain Egg prices continue to rise as avian influenza outbreaks limit production.

Despite rising about 5% today, Moderna stock is still down nearly 65% ​​from last year as COVID-19 vaccine sales slump.