The head of the agency's vaccine division, Vinay Prasad, has overruled pushback from career staffers.
The new shot was not compared to “the best-available standard of care in the United States at the time of the study,” an FDA official told Moderna.
Moderna Inc (NASDAQ:MRNA, XETRA:0QF) shares fell almost 6% after the drugmaker announced that the US Food and Drug Administration's (FDA) Center for Biologics Evaluation and Research (CBER) has issued a Refusal-to-File (RTF) letter for the company's biologics license application for its investigational seasonal influenza vaccine, mRNA-1010. According to the company, the FDA cited the choice of a licensed standard-dose influenza vaccine as the comparator in Moderna's Phase 3 trial as the reason for the refusal.
Moderna shares sink 10% after FDA issues Refusal-to-File letter for its mRNA-1010 flu vaccine, citing trial design concerns despite no safety flags.
The biotech company said the FDA won't review its flu vaccine, in the latest hit to mRNA development.
Amazon (AMZN) acquires a 5.3% stake in BETA Technologies, sharply boosting BETA's premarket share price. Moderna (MRNA) faces an FDA refusal-to-file for its mRNA-1010 influenza vaccine, citing inadequate trial controls but no safety or efficacy issues.
Moderna shares opened 14% lower in Frankfurt on Wednesday in low volume after the U.S. Food and Drug Administration refused to review the company's approval application for its influenza vaccine.
The Food and Drug Administration refused to start a review of Moderna's application for its experimental flu shot, the company said. It's another sign of the Trump administration's influence on tightening vaccine regulation in the U.S.
The company said the agency wouldn't review its application on the grounds that the study testing the shot wasn't sufficient.
In the latest trading session, Moderna (MRNA) closed at $41.95, marking a +2.29% move from the previous day.
MRNA is set to report Q4 results on Feb. 13, with expectations for an earnings beat as COVID vaccine sales and pipeline updates stay in focus.
Moderna (MRNA) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.