Moderna, Inc. (MRNA) shares plummeted 5.24% in the pre-market session on Wednesday, following reports that the Trump administration is considering withdrawing funding for the company's $590 million bird flu vaccine contract.
The contract, awarded by the Biden administration in its final days, aimed to advance the development of Moderna's bird flu vaccine. However, the new Trump administration is reevaluating the deal as part of a broader push to scrutinize spending on messenger RNA (mRNA) vaccines.
The potential loss of this significant funding could deal a blow to Moderna's future revenue and growth prospects. Analysts have raised concerns about the new administration's stance on mRNA vaccines, with reports of funding freezes on public health research and job cuts at the Centers for Disease Control and Prevention (CDC).
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.