NEW YORK, NY / ACCESSWIRE / July 5, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Moderna, Inc. ("Moderna" or the "Company") (NASDAQ:MRNA). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Moderna and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On May 31, 2024, Moderna issued a press release "announc[ing] that the U.S. Food and Drug Administration (FDA) has approved mRESVIA (mRNA-1345), an mRNA respiratory syncytial virus (RSV) vaccine, to protect adults aged 60 years and older from lower respiratory tract disease caused by RSV infection." The Company's press release indicated a vaccine efficacy of only 78.7%.
On this news, Moderna's stock price fell $8.94 per share, or 5.9%, to close at $142.55 per share on May 31, 2024.
Then, on June 26, 2024, in a presentation before the Centers for Disease Control and Prevention's Advisory Committee on Immunization Practices, Moderna disclosed that after 18 months, its vaccine proved only 49.9% to 50.3% effective against multiple symptoms of lower respiratory tract disease-a significantly lower efficacy rate than vaccines produced by Moderna's competitors.
On this news, Moderna's stock price fell $15.15 per share, or 11.01%, to close at $122.45 per share on June 26, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP
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