Investing.com — Stocks Modern (NASDAQ: ) and CureVac (NASDAQ:CVAC ) saw gains in premarket trading Tuesday as seasonal flu cases in the United States show a significant increase. Moderna shares rose 3.4%, while CureVac shares jumped 5%, extending yesterday’s gains.
The uptrend in these biotech stocks comes amid broader gains in the vaccine sector, s Novavax (NASDAQ: ) and BioNTech (NASDAQ: ) also posted gains of 7.3% and 1.2%, respectively. This increase follows a recent update from the Centers for Disease Control and Prevention (CDC), which reported an increase in influenza activity across much of the country, with significant increases in A(H1N1)pdm09 and A(H3N2) influenza viruses.
The latest figures from the CDC indicate a worrying trend, with 18.7% of clinical laboratory tests positive for influenza, an increase from the previous week. Outpatient visits for respiratory illnesses also rose to 6.8%, remaining above the national baseline for the fifth consecutive week.
In addition to the impact of seasonal flu, the first reported bird flu death in the United States, confirmed by the Louisiana Department of Health, also caught the market’s attention. The individual, over 65 years of age with pre-existing medical conditions, contracted the virus through exposure to a non-commercial backyard flock and wild birds.
The CDC reiterated its recommendation for an annual flu shot for everyone 6 months of age and older and emphasized the importance of prompt antiviral treatment, especially for those at higher risk of severe illness. With at least 5.3 million flu cases, 63,000 hospitalizations and 2,700 deaths attributed to the flu this season, the health agency is closely monitoring the flu along with other respiratory viruses, including COVID-19 and RSV.
Investors appear to be reacting to increased demand for vaccines and treatments due to increased flu activity, which is likely to continue as the season progresses. The market’s response to these developments reflects the critical role that vaccine developers play in public health, particularly during periods of increased disease prevalence.
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