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Why Moderna Shares Continue To Fall Today

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Moderna Inc (NASDAQ: MRNA) is continuing to trade lower Monday amid news surrounding Merck & Co Inc's (NYSE: MRK) oral COVID-19 treatment.

Merck, and Ridgeback, on Friday announced its investigational oral antiviral molnupiravir reduced risk of hospitalization or death by about 50% versus the placebo for patients with mild to moderate COVID-19 in Phase 3 interim analysis.

Merck said it plans to submit an application for Emergency Use Authorization to the U.S. FDA as soon as possible based on these findings and plans to submit marketing applications to other regulatory bodies worldwide.

"With these compelling results, we are optimistic that molnupiravir can become an important medicine as part of the global effort to fight the pandemic and will add to Merck’s unique legacy of bringing forward breakthroughs in infectious diseases when they are needed most," said Robert Davis, president and CEO of Merck.

Moderna's mRNA technology was rapidly validated with its COVID-19 vaccine, which was authorized in the United States in December 2020.

MRNA Price Action: Moderna has traded as high as $497.49 and as low as $65.48 over a 52-week period.

The stock was down 4.92% at $324.30 at time of publication.

Photo: Mufid Majnun from Pixabay.

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