Moderna, Novavax hit 52-week lows

Sep. 29, 2022 10:47 AM ETModerna, Inc. (MRNA), NVAXNVS, INO, VXRT, OCGN, VALNBy: Dulan Lokuwithana, SA News Editor84 Comments

Coronavirus and Global finance

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  • The shares of COVID-19 vaccine makers witnessed a sharp decline on Thursday morning, with Moderna (NASDAQ:MRNA) and Novavax (NASDAQ:NVAX) reaching 52-week lows.
  • Its rivals in COVID-19 vaccine development, Valneva (VALN), Vaxart (VXRT), Ocugen (OCGN), and Inovio Pharmaceuticals (INO), have also joined the selloff, which coincided with a market-wide weakness in stocks.
  • Moderna (MRNA) is trading at levels not seen since January 2021, and Novavax (NVAX) has approached the lowest level since May 2020.
  • MRNA announced Thursday that Juan Andres, its Chief Technical Operations and Quality Officer, will take up a new role as President, Strategic Partnerships and Enterprise Expansion, effective Jan. 01.
  • “In his new role, Mr. Andres will focus on building out the Company’s organization to support its growing pipeline,” MRNA added.
  • Dr. Jerh Collins, who headed Head of Global Chemical Operations at Novartis (NVS), will succeed Mr. Andres.

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