Investing.com -- An advisory panel to the Food and Drug Administration recommends approval of Moderna Inc (NASDAQ:MRNA)'s Covid-19 drug, clearing the way for the agency to approve the second vaccine to fight the pandemic.
The move, coming a week after the approval of a vaccine developed by Pfizer Inc (NYSE:PFE) and BioNTech SE (NASDAQ:BNTX), marks a critical point in the battle with coronavirus. Vaccinations started this week across the United States, with front-line medical personnel getting first priority. Vice President Mike Pence and his wife are scheduled to receive the vaccine Friday morning.
Shares of Moderna traded up 5% during Thursday's session in anticipation of the panel's decision. Shares fell 3% in after-market hours.
Cities and states across the country are struggling to handle the economic toll of the pandemic against a grim daily record count of new cases and deaths.
The FDA could approve Moderna's vaccine for emergency use as early as Friday, opening the possibility that its vaccine could start being injected next week.