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Moderna’s Covid vaccine is just the beginning of what the biotech company has to offer. On Wednesday, the company announced positive clinical trial data on three experimental vaccines for other viruses, moving them to final stage studies. This update brings Moderna closer to having multiple products on the market, a crucial step as demand for Covid shots declines worldwide. Currently, the company’s Covid jab is its only commercially available product, and its stock has suffered as a result. However, shares of Moderna closed 3% higher on Wednesday after the announcements, signaling investor confidence in the company’s future. Moderna will be outlining its post-Covid future during its fifth annual “Vaccines Day,” an investor event in Boston focused on the company’s vaccine portfolio. With an estimated total addressable market of $52 billion for infectious disease shots, including $27 billion for respiratory vaccines, Moderna’s future looks promising.
2024-03-27 19:22:11
Source from www.cnbc.com