Flu readout contributes to $2B drag on Moderna’s market cap

The potential of Moderna’s mRNA vaccine in an important commercial market is being questioned by investors after the company reported its influenza vaccine failed to show non-inferior immunogenicity against a pair of influenza B lineages.

On Thursday, Moderna Inc. (NASDAQ:MRNA) reported that its seasonal influenza vaccine mRNA-1010 led to superior mean geometric titer ratios for Influenza A/H3N2 and non-inferior titer ratios for A/H1N1, but failed to meet non-inferiority criteria for the two B lineages — B/Victoria and B/Yamagata — in an interim analysis of a Phase III study...