BofA says ‘left with more questions than answers’ after Moderna Vaccines Day

After Moderna hosted its annual Vaccines Day, BofA said the firm "wouldn’t be surprised if shares continue to trade under pressure" given Moderna’s seasonal flu program, mRNA-1010, received notice that the iDSMB interim review recommended continuation of efficacy follow-up. Following the delay, the firm suspects investor interest may turn to the updated mRNA-1010 flu vaccine, which is set to initiate a confirmatory phase 3 trial this month. BofA, which contends that it was "left with more questions than answers" from the event, has a Neutral rating and $200 price target on Moderna shares.