Moderna Stock Jumps After FDA Advisors Recommend Booster Shot

·1 min read

By Sam Boughedda — On Thursday, an FDA advisory panel voted unanimously to give booster shots of Moderna 's (NASDAQ:MRNA) Covid-19 vaccine to people aged 65 and older and other vulnerable citizens. 

The non-binding decision got 19 yes votes after a two-day meeting based on whether available data on Moderna's Covid-19 vaccine booster supports a booster at least six months after being vaccinated.

The FDA’s Vaccines and Related Biological Products Advisory Committee has brought Moderna's booster shot in line with Pfizer (NYSE:PFE) and BioNTech’s vaccine, which was authorized for the same group less than a month ago.

As the approval has come from an advisory committee, the FDA doesn't have to follow its advice. However, it often does, and a final decision from the FDA could arrive in the next few days. A CDC advisory panel would then vote on the FDA's recommendation. 

Moderna's stock price jumped over 4% after news of the panel's approval. It closed Thursday's session at $331.88, climbing 3.23% from Wednesday.

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