Moderna says too soon to declare ‘early success’ for flu shot
Moderna says too soon to declare ‘early success’ for flu shot
April 11 (Reuters) – Moderna Inc. (MRNA.O) said on Tuesday its closely watched flu vaccine did not meet the criteria for early success in a late-stage trial, sending its shares down nearly 5% premarket.
Not enough people had been infected with flu at the time of an interim analysis of the trial, which compared the shot with an approved vaccine, making it too early to determine Moderna shot’s efficacy, the company said, adding it would keep testing it for more data.
The company was banking on the success of its flu shot and aims to grab large portions of the respiratory syncytial virus (RSV) and seasonal flu markets with its new mRNA vaccines.
Moderna in February forecast $5 billion in COVID vaccine sales this year, far less than the $18.4 billion windfall in 2022, due to decreasing demand for the shots.
Investors had been hoping for stronger data on the flu vaccine after an earlier trial showed it generated a strong immune response against influenza A strains, but was inferior to an approved vaccine for the less-prevalent influenza B strain.
“We would have liked to see the study stop early for non-inferiority,” said Jefferies analyst Michael Yee in a research note.
Earlier this year, Moderna’s experimental messenger RNA vaccine, mRNA-1345, for respiratory syncytial virus (RSV) was 84% effective in at preventing at least two symptoms in older adults. Moderna said it expects to file for approval of its RSV vaccine this quarter.
Moderna expects to make sales between $8 billion and $15 billion from its combined respiratory vaccine portfolio in 2027. It is testing vaccines against RSV, influenza and a next-generation COVID-19 shot in late-stage studies.
The flu, an infection of the nose, throat and lungs, kills 290,000 to 650,000 people worldwide annually.
The company said it expects to launch six major vaccines in the next few years.
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Source: Reuters
