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Moderna Rose Today -- Is It a Buy?

TheMotleyFool

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Shares of Moderna (NASDAQ: MRNA) rose as much as 4.9% on Tuesday before giving up some of its gains, based on data from S&P Global Market Intelligence. The move came after the U.S. Food and Drug Administration (FDA) gave full approval to the company's COVID-19 vaccine in adults ages 18 and older. Is the stock a buy after this milestone?

Ordinarily, an FDA approval would be great news for a biotech. But Moderna's situation is different. The company already markets its COVID-19 vaccine under the FDA's Emergency Use Authorization (EUA) program. The main difference for Moderna now will be that it can use the vaccine's brand name -- Spikevax -- in promoting it in the U.S.

Image source: Getty Images.

Source Fool.com

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