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StockNews.com
StockNews.com
Business
Anushka Dutta

Is Now the Time to Buy Into Moderna, Inc. (MRNA)?

MRNA Vaccine Covid-19 Moderna Inc

COVID-19-related hospitalizations are once again on the rise due to the onslaught of new subvariants. Vaccine-maker Moderna, Inc. (MRNA) announced that an initial study shows that its updated vaccine is effective against the EG.5 (Eris) and FL 1.5.1 (Fornax) subvariants.

The updated shots await approval from health regulators and are expected to be available in the upcoming weeks. After the boom during the global pandemic, MRNA’s vaccine sales have toppled from their highs. Its product sales for the second quarter of 2023 were $293 million, down 94% year-over-year.

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