Moderna, EU agree to push back delivery of COVID-19 vaccine
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Moderna (NASDAQ:MRNA) and European Commission (EC) amended their agreement to allow for Member States to receive the booster vaccine later in 2022 or 2023.
The company's COVID-19 vaccine, Spikevax's booster doses were scheduled for delivery in Q2 2022.
The move potentially hints at upcoming decline in demand for COVID vaccines. According to a report, Wall Street projects that the sales for COVID-19 vaccines and therapies to plateau amid ample supplies while companies are continuing to assess the outlook.
Moderna (MRNA) said the participating member states will have the possibility to receive the expected updated bivalent booster candidate following approval by the European Medicines Agency (EMA).
The company's bivalent prototype and Omicron booster vaccine candidate (mRNA-1273.214) is currently being evaluated in a phase 2/3 trial. Initial data on mRNA-1273.214 is expected in June to inform selection of its candidate for the Northern Hemisphere fall 2022 booster, the company said in a June 2 press release.
Moderna (MRNA) noted that it continues to expect advanced purchase agreements of ~$21B for 2022 and believes that COVID market conditions will result in sales slightly higher in H2 2022 than in the first half.