Moderna Inc Shares Crashes

Moderna Inc. shares dropped 1.98% to $346.61 Monday. This proved to be an all-around mixed trading session for the stock market, with the NASDAQ Composite Index COMP rising 0.06% to 14,681.07 and the Dow Jones Industrial Average DJIA falling 0.28% to 34,838.16.

Moderna Inc. closed $15.39 below its 52-week high ($362.00), which the company reached on July 26th. The stock crashed when compared to some of its competitors Monday, as AbbVie Inc. ABBV fell 0.73% to $115.45, Amgen Inc. AMGN fell 0.72% to $239.79, and AstraZeneca PLC ADR AZN rose 0.24% to $57.38.

Moderna Inc Trading volume (13.6 M) eclipsed its 50-day average volume of 13.5 M. The biotechnology company pioneering messenger RNA therapeutics and vaccines, today announced the first participant has been dosed in the Phase 1 study of mRNA-6231, the Company’s mRNA-encoded IL-2 modified for the expansion of regulatory T cells. mRNA-6231 is Moderna’s first autoimmune candidate to enter the clinic. It is also Moderna’s first subcutaneously administered therapeutic program.

The company has active clinic programs in five different therapeutic areas: infectious disease, oncology, cardiovascular, rare disease and autoimmune disease. mRNA‑6231 is a lipid nanoparticle ‑encapsulated mRNA-based therapeutic that encodes for mutein human interleukin 2, fused to human serum albumin with the goal of achieving enhanced selectivity toward T regulatory cells. IL-2 through preferential expansion of Tregs is hypothesized to play a central role in restoring immune homeostasis. The trial is a Phase 1, first‑in‑human, dose‑escalation study to evaluate the safety, tolerability, pharmacokinetics, and pharmacodynamics of mRNA‑6231 in healthy adult participants, following subcutaneous administration of a single dose of mRNA‑6231.