Moderna stock rallies 5% after respiratory virus vaccine trial meets endpoints

Moderna Inc.
MRNA,
-0.68%
shares rallied in the extended session Tuesday after the biotech drug company said results from a late-stage clinical trial for its respiratory virus vaccine met endpoints, and that it will submit for Food and Drug Administration approval by mid-2023. Moderna shares surged as much as 5% after hours, following a 0.7% decline to close the regular session at $190.69. The company said data from a Phase 3 clinical trial of its mRNA-1345 vaccine candidate showed an efficacy of 83.7% against respiratory syncytial virus in older adults. At Tuesday’s close, Moderna shares were down 6.9% over the past 12 months, versus a 14.1% decline on the S&P 500 index
SPX,
-0.20%.