Moderna Inc.'s stock rose above 4% on Wednesday, as investors drew optimism from the company's announcement on the efficiency of the vaccine for respiratory syncytial virus or RSV.
According to the press release posted on January 17, the American pharmaceutical giant stated that its experimental mRNA version of an RSV vaccine for older adults had an efficacy rate of nearly 84%. The study included 37,000 adults aged 60 or older in 22 countries, including the United States.
Moderna's CEO Stephane Bancel hailed the results of the trial, calling the data "encouraging." In the first half of this year, the company intends to submit a request for regulatory approval of the vaccine to the Food and Drug Administration.
The company's stock was up by 3.71% to sell at $197.67 per share at 2:17 pm ET.
