Moderna, Inc. ( MRNA ) shares are trading higher Friday after the company received Health Canada approval for the updated COVID-19 vaccine.

What To Know: Health Canada authorized Moderna's ( MRNA ) updated Spikevax COVID-19 mRNA vaccine targeting the SARS-CoV-2 LP.8.1 variant for individuals six months and older. The company said it is on track to deliver the vaccine in time for the 2025-2026 vaccination season.

All pre-filled syringe doses for the Canadian market will be manufactured domestically for the first time, with drug substance production at Moderna's ( MRNA ) new facility in Laval, Quebec, and fill-finish operations completed by Novocol Pharma in Cambridge, Ontario. Canadian-made doses are expected to be available this fall.

"This approval is a regulatory milestone and a testament to Canada's growing leadership in biomanufacturing and public health resilience," said Stéphane Bancel, CEO of Moderna ( MRNA ).

The vaccine has already been approved by regulators in Europe, Japan, Switzerland and other countries, with additional applications under review worldwide.

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MRNA Price Action: At the time of writing, Moderna ( MRNA ) stock is trading 4.23% higher at $27.33, according to data from Benzinga Pro.

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