Lawsuit filed for Investors who lost money with shares of Moderna, Inc. (NASDAQ: MRNA)

An investor, who purchased shares of Moderna, Inc. (NASDAQ: MRNA), filed a lawsuit over alleged violations of Federal Securities Laws by Moderna, Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased a significant amount of shares of Moderna, Inc. (NASDAQ: MRNA) have certain options and for certain investors are short and strict deadlines running. Deadline: October 8, 2024. NASDAQ: MRNA investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Cambridge, MA based Moderna, Inc., a biotechnology company, discovers, develops, and commercializes messenger RNA therapeutics and vaccines for the treatment of infectious diseases, immuno-oncology, rare diseases, autoimmune, and cardiovascular diseases in the United States, Europe, and internationally. Moderna, Inc. reported that its annual Total Revenue declined from over $18.87 billion in 2022 to over $6.75 billion in 2023, and that its Net Income over over $8.37 billion in 2022 turned into a Net Loss of over $4.65 billion in 2023.

In July 2023, Moderna initiated a rolling submission of a Biologics License Application ("BLA") to the U.S. Food and Drug Administration ("FDA")-or the process by which a pharmaceutical company may submit completed sections of a BLA for review by the FDA before all sections become available-for real-time review of mRNA-1345 backed by late-stage data, which indicated a vaccine efficacy rate of 83.7% as defined by two or more RSV symptoms related to the lower respiratory tract.

On May 31, 2024, Moderna, Inc. (NASDAQ: MRNA) announced "that the [FDA] has approved mRESVIA (mRNA-1345) . . . to protect adults aged 60 years and older from lower respiratory tract disease caused by RSV infection." However, the Company's press release indicated a vaccine efficacy of only 78.7%, significantly lower than the 83.7% vaccine efficacy that Moderna had previously identified in its mRNA-1345 BLA rolling submission to the FDA. Following this announcement, analysts and market observers were quick to note mRNA-1345's lower-than-expected efficacy rate.

Then, on June 26, 2024, in a presentation before the Centers for Disease Control and Prevention's ("CDC") Advisory Committee on Immunization Practices, Moderna disclosed that after 18 months, mRNA-1345 proved only 49.9% to 50.3% effective against multiple symptoms of lower respiratory tract disease-a significantly lower efficacy rate than vaccines produced by Moderna's competitors.

Following this presentation, market analysts once again took notice of mRNA-1345's reduced efficacy rate. For example, in an article published the same day, Reuters stated, in relevant part, that "Moderna [. . .] opens new tab respiratory syncytial virus (RSV) shot mRESVIA showed 50% efficacy in preventing RSV after 18 months," and that, by comparison, the RSV vaccines of Moderna's competitors GSK and Pfizer were "78% effective in preventing severe RSV over a second year" and "78% effective through a second RSV season," respectively. Also on June 26, 2024, Bloomberg published an article entitled "Moderna RSV Vaccine Efficacy Sinks Over Time, CDC Documents Show," which stated, in relevant part, that "[t]he results could further raise doubts over the prospects for its shot, which is already third to the market. Moderna shares fell as much as 11%, their biggest intraday decline since November."

Shares of Moderna, Inc. (NASDAQ: MRNA) declined from $170.47 per share on May 24, 2024, to as low as $78.07 per share on August 05, 2024.

The plaintiff claims that between the Defendants made false and/or misleading statements and/or failed to disclose that mRNA-1345 was less effective than Defendants had led investors to believe, that accordingly, mRNA-1345's clinical and/or commercial prospects were overstated, and that as a result, the Company's public statements were materially false and misleading at all relevant times.

Those who purchased shares of Moderna, Inc. (NASDAQ: MRNA) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.