Patrick Wingrove and Mariam Sunny
(Reuters) -Modern said on Friday that the US FDA paused in the late phase of experiment with an experimental vaccine for the Norovirus after the case of a rare neurological side effects was reported.
The vaccine test, called Mrna-1403, was placed on clinical retention after a report on the negative event about the case of Guillain-Barre Syndrome, which is currently under investigation, Modern said.
The Modern CEO during the Conference Call stated that the Guillain-Barre case was relatively reported shortly after the vaccine administration, although it was difficult to determine the causal relationship between the two.
“The FDA takes time to review the materials we have handed over and they can come back with questions,” the executive director said.
The company has announced that enrollment on the trial of the Norovirus vaccine has been completed on the northern hemisphere and that it does not expect delays in the enrollment in the southern hemisphere.
Modern deals with revenues from the newer MRNA recordings to make up for decay after a pandemic for the Covid-19-19 vaccine and a less expected vaccine entry for a respiratory syncycial virus, which sent stakes lower by almost 60%last year.
Stocks modern, together with other vaccine manufacturers, have fallen further this year because the legislators have progressed by US President Donald Trump for the Secretary of Health and Human Services Robert F. Kennedy via Congress. Kennedy, an open vaccine critic, was confirmed in the role on Thursday.
The modern total revenue for the fourth quarter fell almost $ 66% to $ 966 million, but won the expectations of analysts in the amount of $ 942.84 million. Most of these sales were generated by Covid Shot, who brought $ 923 million, compared to $ 15 million for his RSV vaccine.
Despite the clinical retention, the modern shares increased more than 4% to $ 33.31 in the afternoon trading, which is far below 52-week maximum of about $ 170, and a pandemic maximum of over $ 484.
The vaccine manufacturer said in January that he would reduce cash costs for $ 1 billion, as well as an additional $ 500 million in 2026.
“We have seen appropriate reductions and … Evidence of modern that starts reducing costs so that they can manage the lower revenue lines more appropriately,” said Bernstein analyst Courtney Breen.
The company reported a quarter -month loss of $ 2.91 per share, compared to the expectations of analysts from a loss of $ 2,68 per share, according to LSEG DATA. Last year, he announced a profit of 55 cents per share.
Finance chief James Mock has attributed a loss of $ 238 million in an interview with $ 238 million, a cashless accusation related to the termination of an agreement with the contract manufacturer.
