Moderna Inc. said a final-stage study of its first experimental flu shot hasn’t accumulated enough data to determine efficacy, and the company will advance another candidate.
Moderna tested its messenger RNA flu shot against a traditional vaccine in a trial of about 23,000 people age 50 and older in the northern hemisphere. An independent panel of scientific advisers recommended that the research continue to gather more data. Moderna plans to start a final-stage study of an updated version of the vaccine this month, according to a statement Tuesday. The shares fell 4.8% in trading before US markets opened.
Introducing a flu shot is crucial to Moderna’s future. Covid vaccine sales are expected to drop precipitously with so many people already immunized and lackluster demand for boosters. Breaking into the roughly $7 billion flu shot market could help revenue. Plus, the company sees combination shots that protect people from Covid, flu and potentially RSV as a way to buoy sales.
But before it can start mixing them together, Moderna needs to prove each piece works on its own, and the setback could delay its plans.
By 2027, Moderna expects respiratory product sales of $8 billion to $15 billion with profit between $4 billion and $9 billion. The company shared plans for immunizations against other ailments including respiratory syncytial virus and cytomegalovirus ahead of an investor event focused on its vaccine business.
The company plans to seek US approval for its RSV shot this quarter. Its final-stage study of a CMV vaccine is about halfway enrolled.
Moderna said it will also start developing immunizations for tick-borne Lyme disease and norovirus, a stomach ailment.
