Moderna, Inc. (MRNA) shares surged 5.02% in intraday trading on Wednesday, January 22nd, fueled by news that the company secured a $590 million contract from the U.S. government to accelerate the development of a bird flu vaccine.
The substantial contract award from the U.S. government is a significant boost for Moderna's efforts to expand its vaccine portfolio beyond its successful COVID-19 vaccine. The funds will be used to speed up the research, development, and clinical testing of a vaccine candidate targeting the highly pathogenic avian influenza virus, commonly known as bird flu.
Moderna's share price rally reflects investor optimism about the company's potential to leverage its mRNA technology platform to address emerging infectious disease threats. The bird flu vaccine program underscores Moderna's commitment to advancing its pipeline and solidifying its position as a leading player in the global vaccine market.
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