Moderna to develop vaccine candidates for seasonal flu, HIV

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Shares of Moderna Inc. were up 1.3% in premarket trading on Monday after the company said it plans to launch new development programs using its mRNA technology that will focus on developing vaccines for seasonal flu, HIV, and the Nipah virus. This follows the success of its mRNA COVID-19 vaccine, which is one of two vaccines to be authorized so far in the U.S. CEO Moderna also said it plans to expand its respiratory syncytial virus to include older adults, and it plans to test different vaccine combinations that fight the flu, COVID-19, RSV, and human metapneumovirus. “The uniquely challenging year of 2020 for all of society proved to be an extraordinary proof-of-concept period for Moderna,” CEO Stéphane Bancel said in a news release. As part of its corporate update, Moderna said it had about $5.2 billion in cash as of Dec. 31, compared to the $1.2 billion in cash it had at the same time a year ago, and it expects to generate at least $11.7 billion in revenue in 2021 for its COVID-19 vaccine based on advance purchase agreements. Moderna’s stock has soared 489.1% over the last year, while the S&P 500 is up 19.7%.
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