financetom
Business
financetom
/
Business
/
US awards Moderna $590 million for bird flu vaccine development
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US awards Moderna $590 million for bird flu vaccine development
Jan 17, 2025 2:12 PM

(Reuters) -The U.S. government has awarded Moderna $590 million to advance the development of its bird flu vaccine, as the country doubles down on efforts to tackle increasing infections in humans.

This is in addition to $176 million awarded last year to complete late-stage development and testing of a pre-pandemic mRNA-based vaccine against the H5N1 avian influenza.

The funding will also support the expansion of clinical studies for up to five additional subtypes of pandemic influenza, Moderna said on Friday.

Moderna is testing the experimental shot, mRNA-1018, against several strains of the virus - including the currently circulating H5N1 variant.

The drugmaker said it is preparing to advance mRNA-1018 into late-stage trials based on preliminary data from an early-to-mid stage study and plans to present the data at an upcoming medical meeting.

The award was made through the Rapid Response Partnership Vehicle (RRPV) Consortium with funding from the U.S. Biomedical Advanced Research and Development Authority.

Nearly 70 people in the U.S., most of them farmworkers, have contracted bird flu since April, as the virus has circulated among poultry flocks and dairy herds.

Most infections in humans have been mild, but one fatality was reported in Louisiana last week.

The risk to the general public from bird flu is low, and there has been no further evidence of person to person spread, according to the U.S. Centers for Disease Control and Prevention.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Applied Digital (APLD) Secures $150M Preferred Equity Deal: What's Going On?
Applied Digital (APLD) Secures $150M Preferred Equity Deal: What's Going On?
May 25, 2025
Applied Digital Corp ( APLD ) shares are trading higher by 12.1% to $5.08 during Thursday’s session as the stock trends across social media platforms. On Wednesday, the company announced it had entered into a preferred equity purchase agreement with select investors, allowing the company to raise up to $150 million through the sale of its newly designated Series G...
Update: Market Chatter: KKR to Transfer Selecta Group Ownership to Existing Investors in Recapitalization Move
Update: Market Chatter: KKR to Transfer Selecta Group Ownership to Existing Investors in Recapitalization Move
May 25, 2025
01:57 PM EDT, 05/01/2025 (MT Newswires) -- (Updates with Strategic Value Partners declines to comment in the fifth paragraph.) KKR (KKR) will transfer the ownership of Switzerland-based vending machine company Selecta Group to a consortium of the company's existing creditors as part of a recapitalization deal, Bloomberg reported Wednesday, citing people familiar with the matter. The lender group includes Invesco...
What's Going On With Shake Shack Stock On Thursday?
What's Going On With Shake Shack Stock On Thursday?
May 25, 2025
Shake Shack, Inc. ( SHAK ) shares are trading higher on Thursday after reporting first-quarter results. The company reported quarterly adjusted earnings per share of 14 cents, missing the street view of 16 cents. Quarterly sales of $320.90 million (up 10.5%) missed the analyst consensus estimate of $328.08 million. System-wide sales reached $489.4 million, marking a 10.4% increase year over...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved