Moderna's stock surges as the US government invests millions in covert bird flu vaccine trials, amid concerns over H5N1's spread and potential human-to-human transmission ahead of the presidential elections.
In the New York premarket trading session, Moderna's shares have increased by nearly 4% in response to a Financial Times report stating that the US government is getting ready to "bankroll a late-stage trial of Moderna's mRNA pandemic bird flu vaccine." Ahead of the presidential elections in November, H5N1 is becoming more widespread in the US, and some well-known medical professionals have already issued a warning regarding university labs testing H5N1 gain-of-function.
Over the previous few months, news about bird flu has caused shares to spike higher.
Federal money could be awarded to the pharmaceutical company as early as next month, according to sources familiar with the discussions between Moderna and the government's Biomedical Advanced Research and Dev...