The Trump administration has canceled a contract awarded to Moderna for the late-stage development of its bird flu vaccine for humans, as well as the right to purchase shots, the drugmaker announced on Wednesday.
Shares of Moderna were flat in after-market trading.
Moderna in January was awarded $590 million by the Biden administration to advance the development of its bird flu vaccine, and support the expansion of clinical studies for up to five additional subtypes of pandemic influenza. Currently, the U.S. lacks sufficient bird flu vaccine stockpiles, with only 0.82 doses available per person, according to disease analytics firm Airfinity.
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