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Moderna(MRNA.US) stock gains another upbeat catalyst as the EU awards a COVID-19 vaccine contract.

Market IntelFriday, Jan 24, 2025 8:41 am ET

1min read

After a strong run for four consecutive trading days, Moderna (NASDAQ:MRNA), a leader in the mRNA vaccine field, continued its upward trend in pre-market trading on Friday, as the company received new tenders to supply its COVID-19 vaccine in the EU, Norway, and North Macedonia, which will award COVID-19 vaccine contracts.

Under the terms of the agreement, 17 European countries will have the opportunity to use Moderna's mRNA-based vaccine products for up to four years. The company will be able to supply the products in various forms, including prefilled syringes.

Moderna's Spikevax COVID-19 vaccine has been approved in the EU for active immunization in people aged six months and older.

"The diversity and availability of vaccine presentation (e.g. prefilled syringes) is crucial to increase COVID-19 vaccination rates and improve the overall efficiency of vaccination campaigns, ultimately contributing to health security," said Chantal Freibert-Hauser, Moderna's General Manager for Europe and the Middle East.

Earlier in September, the European Commission authorized an updated version of the COVID-19 vaccine against the JN.1 variant.

Moderna was one of the most notable stocks in recent days after Oracle (ORCL) chairman Larry Ellison highlighted the potential of artificial intelligence (AI) in developing mRNA cancer vaccines. Larry Ellison said AI could be used to develop personalized cancer vaccines and early tumor detection based on mRNA. He explained that AI could be used to analyze tests aimed at identifying tiny tumor fragments circulating in the blood, and a personalized, individualized cancer vaccine could be developed in about two days after sequencing the mutated molecules.

Moderna partnered with Merck (MRK) to develop mRNA-4157, a customized cancer vaccine, which is currently in late-stage development for melanoma skin cancer.

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