Moderna Inc.’s stock rose 1.1% early Friday, after the biotech said an advisory panel to the European Union’s medical regulator had adopted a positive opinion on its respiratory syncytial virus (RSV) vaccine for adults aged 60 and older.
The vaccine called mResvia has already been approved by the U.S. Food and Drug Administration, becoming Moderna’s second approved product after its COVID-19 vaccine, Spikevax.
“mRESVIA safeguards older adults against severe RSV outcomes and is uniquely offered in a pre-filled syringe to enhance ease of administration, which can save healthcare professionals time and reduce administrative errors,” Moderna CEO Stéphane Bancel said in prepared remarks.
RSV often causes mild, cold-like symptoms, but can be severe, particularly for infants and older adults. About 60,000 to 160,000 people age 65 and older are hospitalized each year due to RSV, according to the Centers for Disease Control and Prevention.
The stock has gained 22% in the year to date, outperforming the S&P 500, which has gained 15%.