Moderna (NSDQ:MRNA) has announced positive interim data from the Phase 1 study of its quadrivalent seasonal flu vaccine candidate, mRNA-1010.
Still, the results did not impress investors, as they seemed to be broadly in line with performance of Sanofi’s (NSDQ:SNY) common Fluzone HD flu vaccine.
MRNA shares fell roughly 9% to $249.20 in mid-morning trading.
“We believe the market was looking for data which supported clearly better efficacy,” wrote Morgan Stanley analyst Matthew Harrison in an investor briefing note.
The vaccine candidate led to elevated hemagglutination inhibition (HAI) assay geometric mean titers against four influenza strains 29 days after vaccination.
Investigators tested a variety of doses in both younger and older adults.
Recipients of the 50-µg dose of vaccine, who had large increases in geometric mean antibody titers against H1N1 and H3N2 strains.
The company is also developing other flu vaccine candidates known as mRNA-1011 and mRNA-1012.
Researchers found no significant safety concerns in the study.
The company has also completed the enrollment of a Phase 2 study of the mRNA-1010 vaccine.
Moderna hopes to contribute to reduce the number of deaths associated with respiratory infection. Some three million people died annually from respiratory infections before the COVID-19 pandemic, said Stéphane Bancel, CEO of Moderna. “At Moderna, our goal is to limit this suffering with an annual pan-respiratory single dose booster vaccine that is adapted to the circulating strains of SARS-CoV-2, seasonal influenza and RSV,” Bancel said.