Moderna stock was poised to run Wednesday after the company said new data support a Covid booster shot eight months following the second dose.
In the study, called Cove, breakthrough infections were more common in people vaccinated 13 months ago than those who received their shots a median of eight months ago. Moderna (MRNA) Chief Executive Stephane Bancel says the data support the benefit of boosters at eight months.
“The increased risk of breakthrough infections in Cove study participants who were vaccinated last year compared to more recently illustrates the impact of waning immunity and supports the need for a booster to maintain high levels of protection,” he said in a written statement.
During the regular session on today’s stock market, Moderna stock inched higher.
Moderna Stock: Data Support Boosters
Moderna analyzed Covid infections among vaccinated participants in the study. The study included 14,746 people who received vaccines from July to October 2020 as part of Moderna’s testing program to get the vaccine approved. It also included 11,431 people dosed between December 2020 and March. There were a total of 19 severe cases in both groups. None of these participants received a booster shot prior to Aug. 31.
Researchers analyzed infections from July 1 to Aug. 31 amid the rise of the delta variant. There were 88 infections among more recent vaccine recipients and 162 cases in the first group. That represents a 36% reduction in Covid breakthroughs for the more recently inoculated participants. The news could help Moderna stock continue its recent run.
“While not significant, there was a numerical trend towards a lower rate of severe cases in the group vaccinated more recently compared to the group vaccinated last year,” Moderna said.
Moderna also noted a real-world study at Kaiser Permanente in Southern California showing the primary two doses remained 87% effective against Covid diagnosis through June 30. The shots were also 96% protective against hospitalization due to Covid.
FDA Meeting Set For Pfizer, BioNTech
Early this month, Moderna began submitting data to the Food and Drug Administration to support its booster shot. Before authorizing the booster shot, the FDA’s vaccines advisory committee will have to discuss the Moderna data and make a recommendation.
Moderna stock stands a chance of reacting Friday when the advisory committee meets to discuss Pfizer (PFE) and BioNTech‘s (BNTX) booster shot plan. The duo proposes offering boosters six months following the second dose, according to documents published Wednesday.
Shares of Moderna and BioNTech have perfect Relative Strength Ratings of 99, according to IBD Digital. This puts them in the leading 1% of all stocks in terms of 12-month performance. Moderna stock also remains well above its key moving averages, MarketSmith.com shows.
Moderna stock is also eighth from the top on the IBD 50 list of elite stocks.
Follow Allison Gatlin on Twitter at @IBD_AGatlin.
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