Why Moderna Stock Surged to a New All-Time High Today

·1-min read
Why Moderna Stock Surged to a New All-Time High Today

Shares of Moderna (NASDAQ: MRNA) jumped 8.4% to a record closing high of $419.05 on Wednesday, as investors bid up the biotech's stock price ahead of its upcoming earnings announcement. Moderna said on Tuesday that the U.S. Food and Drug Administration (FDA) granted Fast Track designation for its mRNA vaccine candidate against respiratory syncytial virus (RSV) in adults older than 60. The Fast Track designation will accelerate the FDA's review of Moderna's drug.

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