Moderna (MRNA) and other biopharma companies focused on developing vaccines are trading in the red on Monday following comments from FDA official Vinay Prasad, who oversees vaccinations, that future approvals will face more stringent standards.
Prasad, who heads the Center for Biologics Evaluation and Research, wrote in a email to staff recently that the changes are needed in light of evidence that at least 10 children have died after receiving COVID-19 shots.
Moderna (MRNA), which created one of the two mRNA COVID jabs, is the most impacted vaccine stock, down ~6%. BioNTech (BNTX), which created the other mRNA shot with Pfizer (PFE), is off ~3%. Pfizer is trading flat.
Novavax (NVAX), which manufactures a non-mRNA COVID shot and has a pipeline that doesn’t use the technology, is down ~4%.
Merck (MRK), GSK (GSK), and Sanofi (SNY), which all have significant vaccine franchises, are not as impacted.
