Moderna rises after positive flu vaccine trial results, paving way for combo shot

Moderna rose more than 5% in premarket trading after announcing positive results for its experimental flu vaccine, paving the way for a combination COVID-19 immunization.

The company’s mRNA-based flu shot was 27% more effective than the shots already on the market among adults 50 years and older, the company said in a statement Monday. Moderna disclosed in May that it tried to submit a combination Covid and flu shot for FDA approval, but regulators asked for more efficacy data on its stand-alone flu shot.

The news is a rare bright spot for Moderna amid a tumultuous year. The company’s main revenue source is COVID-19 shots, but sales are declining. Under the Trump administration it’s been met with a more hostile FDA, which has narrowed its recommendation for who should get Covid shots and canceled a contract for Moderna to develop a bird flu vaccine.