TOPLINE
The Food and Drug Administration approved Moderna’s Covid-19 vaccine Monday, providing a much needed break for the American biotechnology company.
KEY FACTS
The FDA fully approved Moderna’s mRNA Spikevax coronavirus vaccine for people ages 18 and older, the agency announced Monday morning.
The Moderna Covid-19 vaccine is the second to receive FDA approval: the FDA approved the Pfizer-BioNTech coronavirus vaccine for people ages 16 and up last August.
Moderna’s vaccine has been available to adults since December 2020 under the FDA’s emergency use authorization.
KEY BACKGROUND
Moderna stock has tanked in 2022 following preliminary evidence that the company’s Covid-19 booster dose was not as effective at preventing Covid-19 infections from the omicron variant compared to prior variants. Shares of Moderna are down 35% in January, though Moderna stock recovered modestly in Monday trading, rising 3.8% to $165.53 as of 12:05 p.m., still down 66.7% from its all-time high of $497.49.
CRUCIAL QUOTE
Acting FDA Commissioner Janet Woodcock said in the release: “The public can be assured that Spikevax meets the FDA’s high standards for safety, effectiveness and manufacturing quality required of any vaccine approved for use in the United States.”
BIG NUMBER
807 million. That’s how many doses of Moderna’s coronavirus vaccine were shipped worldwide in 2021, the company said Monday. More than 10.1 billion doses of Covid-19 vaccines have been administered worldwide, according to Bloomberg’s vaccine tracker.
FURTHER READING
Pfizer Received Full FDA Approval For Its Covid Vaccine: Here’s What’s Next (Forbes)
Moderna Stock Crash Intensifies: Losses Top $130 Billion (Forbes)
By Derek Saul, Forbes Staff