The Food and Drug Administration will discuss Covid booster shots from Pfizer and Moderna next month — possibly giving vaccine stocks another chance to shine.
Experts with the FDA's Vaccines and Related Biological Products Advisory Committee will meet on April 6 to discuss the potential benefits and risks of another round of Covid boosters. Pfizer and its partner, BioNTech, hope to boost people age 65 and older. Moderna wants to offer its booster shot to all adults.
Peter Marks, who heads up the FDA's Centers for Biologics and Evaluation Research, says vaccines offer the best defense against Covid. Still, vaccine stocks are under pressure. If it isn't now, experts say Covid will eventually become endemic. And, like the flu, it may be difficult to convince people to accept regular Covid shots. Roughly half of Americans eligible for a booster shot haven't received one.
"Now is the time to discuss the need for future boosters as we aim to move forward safely, with Covid-19 becoming a virus like others such as influenza that we prepare for, protect against and treat," Marks said in a written statement.
Vaccine Stocks: No Vote Planned
The advisory committee is comprised of industry experts. They will discuss when and whether to update Covid shots to address specific variants, and the timing/age for Covid boosters.
However, the committee won't vote on Pfizer's and Moderna's requests for second boosters. It's unclear how the FDA will tackle the issue of second Covid boosters. Pfizer and BioNTech's booster is another full dose of their original shot. Moderna's is a half-size dose.
If authorized, many people would be eligible to receive four shots based on messenger RNA, or mRNA, technology. These shots tell the body to make a single spike protein, mimicking the outside of the virus. This helps prompt an immune response.
But because the technology is new, there are holdouts —and that hasn't helped vaccine stocks.
Some are waiting for a Covid shot from Novavax, which is using DNA technology. It's also important to note that Johnson & Johnson offers a single-shot vaccine in the U.S. That shot is based on older technology and is less effective.
Shares Are Well Off Recent Highs
Vaccine stocks have tumbled from their late-2021 highs.
Moderna and BioNTech shares have lost more than half of their value since hitting a recent peak in late November. Pfizer stock touched a recent high point in December. Shares are now working to round trip that peak. According to MarketSmith.com, Pfizer shares are forming a cup base with an entry at 61.81.
On the stock market today, BioNTech stock fell 2.5% to 170.12, as Moderna shares dipped 2% to 175.38. Pfizer stock closed at 54.19, down a fraction.
Follow Allison Gatlin on Twitter at @IBD_AGatlin.
