Why Moderna Stock Tanked on Tuesday

By The Motley Fool6 days ago

Shares of Moderna (NASDAQ: MRNA) fell by almost 6% on Tuesday. While the company's mRNA-1273 remains one of only two coronavirus vaccines authorized by the Food and Drug Administration, its counterpart seems to be the one getting all the positive press lately.

The yang to mRNA-1273's yin is BNT162b2 from Pfizer (NYSE: PFE) and German biotech BioNTech (NASDAQ: BNTX).

On the back of research indicating that the BNT162b2 vaccine can be stored for up to two weeks at lower temperatures than previously anticipated, the FDA on Tuesday approved it to be stashed in standard freezer environments. Previously, only ultra-cold storage was deemed appropriate.

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