What Happened?

Shares of biotechnology company Moderna (NASDAQ: MRNA) jumped 7.8% in the afternoon session after the stock's positive momentum continued as the Coalition for Epidemic Preparedness Innovations (CEPI) announced it would invest up to $54.3 million to support a pivotal Phase 3 clinical trial for the company's investigational mRNA-based pandemic influenza vaccine candidate, mRNA-1018. 

This late-stage study would be the first of its kind for an mRNA-based vaccine targeting pandemic influenza, aiming to advance the candidate toward licensure. The funding was seen as a significant step forward for the program, which had faced uncertainty. Earlier in the year, the U.S. government had cut federal funding for the vaccine candidate. The fresh capital from the global partnership provides a new opportunity for Moderna's bird flu vaccine, allowing the company to proceed with the crucial final stage of testing before potential approval.

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What Is The Market Telling Us

Moderna’s shares are extremely volatile and have had 51 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The previous big move we wrote about was 1 day ago when the stock gained 4% on the news that the company announced it would receive up to $54.3 million in funding from the Coalition for Epidemic Preparedness Innovations (CEPI) to advance a late-stage trial for its experimental bird flu vaccine. 

The funding was earmarked to support a pivotal Phase 3 clinical trial for Moderna's investigational mRNA-based H5 pandemic influenza vaccine candidate, known as mRNA-1018. This development marked a significant step toward getting the vaccine licensed. If successful, it would be the first mRNA-based bird flu vaccine to complete a pivotal trial. The study was planned to begin in early 2026. The investment from CEPI was seen as a key step in global pandemic preparedness for one of the world's most pressing health threats.

Moderna is down 20.5% since the beginning of the year, and at $33.39 per share, it is trading 29.7% below its 52-week high of $47.53 from January 2025. Investors who bought $1,000 worth of Moderna’s shares 5 years ago would now be looking at an investment worth $241.45.

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