Moderna (NASDAQ:MRNA) is a Cambridge, Massachusetts-based biotechnology company that discovers, develops, and commercializes messenger RNA therapeutics and vaccines for the treatment of infectious diseases, immune-oncology, rare diseases, autoimmune, and cardiovascular diseases in the United States, Europe, and around the world. Shares of Moderna have surged 33% month-over-month as of late morning trading on May 30, 2024. That has pushed the stock up 33% in the year-to-date period.
Shares of Moderna have climbed on the back of a Financial Times report that the United States government is nearing an agreement to fund a late-stage trial of Moderna’s mRNA bird flu vaccine. The outbreak has continued to spread in dairy cows. That has led to warnings from the Center for Disease Control and Prevention (CDC) that “The wide geographic spread of HPAI A (H5N1) viruses in wild birds, poultry, and some other animals, including in cows, could create additional opportunities for people to be exposed to these viruses.”
Moderna recently told Reuters that it had discussions with the US government on advancing its vaccine candidate. Federal funding from the Biomedical Advanced Research and Development Authority (BARDA) could come as early as next month, according to the Financial Times report.
Vaccine manufacturers like Moderna have somewhat faded in the aftermath of the COVID-19 pandemic. However, shares of Moderna are still trading in favourable value territory and earnings are forecast to deliver strong growth going forward. This is a stock worth monitoring as the bird-flu vaccination situation develops.
