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Moderna Falls as Early Flu Vaccine Data Show No MRNA Miracle

  • Lack of clear edge over existing shots disappoints investors
  • Biotech under pressure to find more hits after Covid success
Updated on

Moderna Inc. investors are learning that just because a vaccine is made with messenger RNA, that doesn’t mean it will produce miraculous results.

The Covid-19 vaccine maker’s shares dropped as much as 14% Friday after the first human trial results from its experimental seasonal flu shot fell short of Wall Street’s expectations. The Moderna shot raised antibodies against influenza as much as a high-dose vaccine from Sanofi that’s already on the market.