Biotech’s stock plunged 25% in nine-day losing streak to close Monday at a three-year low
Moderna Inc. investors enjoyed a rare rally Tuesday as shares of the biotechnology company headed for their first gain in two weeks.
And separately, high-profile investor Cathie Wood’s ARK Genomic Revolution exchange-traded fund ARKG disclosed late Monday that it bought more than $4 million worth of Moderna shares on the day they closed at a three-year low. On Tuesday, the company said the initiation of a Phase 3 trial of its mRNA-1082 combo vaccine follows previous trials showing a strong ability to produce an immune response in a single injection, with an acceptable safety profile, when compared with stand-alone flu and COVID vaccines.
In a statement, the company said that “mRNA‐1083 has the potential to efficiently reduce the overall burden of acute viral respiratory diseases by providing simultaneous protection against influenza and SARS‐CoV‐2 viruses in a single injection,” adding, “mRNA‐1083 offers greater convenience and has the potential to lead to increased compliance with vaccine recommendations.”
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