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Moderna says updated COVID vaccine effective against new variant

Investing.com -- Moderna Inc (NASDAQ:MRNA) has announced that its updated COVID-19 vaccine generates a strong immune response against a new variant of the virus that has raised concerns over a possible spike in cases.

In a statement, the drugmaker said research it carried out into the shot showed an 8.7 increase in neutralizing antibodies in humans against the currently circulating BA.2.86 COVID variant.

The Centers for Disease Control is closely monitoring the Omicron mutation, warning that it may be more capable of causing infection in people who have had COVID-19 or previously received vaccines.

Moderna added that prior results indicate that the updated vaccine, which still needs approval from U.S. drug authorities before the fall 2023 vaccination season, has demonstrated a similarly effective response against other COVID variants.

"The emergence of BA.2.86 [...] underscores the need for vaccination with an updated COVID-19 vaccine, which can help reduce severe disease and hospitalizations caused by current circulating strains," Massachusetts-based Moderna said.

Shares in the company slipped in early U.S. trading on Wednesday.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.