Why Moderna Got Slammed on Tuesday

There was good news with Moderna (NASDAQ: MRNA) on Tuesday regarding its closely followed mRNA-1273 coronavirus vaccine candidate. However, comments made by a health expert who has the ear of the nation when it comes to the pandemic ended up driving the stock down. At the end of the day, it had dropped by over 5%.

The good news first: A briefing filed with the Food and Drug Administration (FDA) revealed that the regulator was leaning toward authorizing mRNA-1273 for general use. This comes two days before the committee advising the FDA meets to discuss whether or not the regulator should turn on that green light.

Dr. Anthony Fauci. Image source: National Institute of Allergy and Infectious Diseases (NIAID).

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Source Fool.com