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What happened
Actions of Modern (NASDAQ: mRNA) climbed 7.5% on Tuesday after British health officials approved the drugmaker’s COVID-19 vaccine for children aged 12 to 17.
So what
The Medicines and Health Products Regulatory Agency (MHRA) has issued conditional approval for Moderna’s vaccine, now called Spikevax, based on clinical trials that have shown the drug to be safe and effective in children. 12 years and over.
Image source: Getty Images.
The news comes as the number of COVID-19 cases increases at an alarming rate in many parts of the world, driven by the spread of the highly contagious Delta variant. Health officials hope the vaccine will help reduce the spread of the disease when students return to school in the coming weeks.
Now what
Additionally, U.S. health regulators plan to allow booster shots for most Americans. The move would allow people who have received two doses of Moderna or Pfizercoronavirus vaccines to receive a third dose, thus increasing their ability to repel the virus. The Biden administration could make the announcement as early as this week, according to The New York Times.
A third round of doses would likely help boost Moderna’s sales and profits as well. Investors know this and they responded to the news by raising the vaccine maker’s share price today.
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