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Is down today in contrast to the positive trend on Wall Street, following a delay by the Food and Drug Administration (FDA) in approving the company’s vaccine against Corona among teens. The FDA wants to get more data on the side effect of myocarditis – myocarditis. Examination of the issue began last week after Sweden, Denmark, Norway and Finland stopped giving the vaccine to young people under the age of 30 following an increased risk of myocarditis. The FDA is now examining the matter in depth and delaying its decision on whether to approve the modern injection for children ages 12-17.
To date, the FDA has not said whether MRNA vaccines increase the risk of myocarditis. The FDA review may delay the decision on Moderna’s request by several weeks. But the timing is still unclear. Pfizer and Biontech faced similar questions. Their injection is fully approved for people aged 16 and over, and is licensed for children ages 12-15. The FDA is currently reviewing their application for approval for children ages 5-11.
The negative sentiment in the vaccine makers’ shares in Corona has continued throughout the past month. In mid-September, the FDA rejected Pfizer’s booster for the general population and approved only for those aged 65 and over. Earlier this month, Mark reported on an emergency clearance for a swallowing drug against Corona. Whereas about two weeks ago the modern share fell following the cessation of vaccination for people aged 30 and under in the four Nordic countries against the background of a study that found a higher risk of developing the syndrome among young people.
The questions that arise around the vaccines for Corona, including the increased risk of myocarditis are shaking the stocks in the field. Shares of Modern and Biontech plunged about 36% and 47%, respectively, from the August high. In this context, we will mention the Pfizer share, which has fallen by about 20% in the last two months, while Novax has fallen by 43% in just one month.
In contrast to the declines now, Modern shares rose in early trading after an analyst at Piper Sandler upgraded the stock’s recommendation and said the current price level is an attractive entry point. But left the target price unchanged at $ 445, suggesting a nearly 31% rise in stocks. Piper Sandler lowered the stock to neutral on August 6th.
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