Shares of several vaccine makers soared after reports suggest that the Biden administration is in discussions with Moderna MRNA and Pfizer PFE to set up a possible vaccine program aimed at preventing the spread of the H5N1 virus, also known as bird flu, in humans.
These reports came to light after the discovery of two cases of H5N1 virus in dairy farm workers in Texas and Michigan this year. Both these workers experienced symptoms in the eye after coming into contact with dairy cows infected with the H5N1 virus.
Though the Centers for Disease Control and Prevention (CDC) stated that the risk to the general public remains low, due to lack of evidence of human-to-human transmission. However, the regulatory body remains vigilant and is even using its flu surveillance systems to monitor for H5N1 activity.
Per the latest CDC data, nine states have confirmed bird flu cases in cows, with 52 dairy herds affected.
In response to the reports, shares of Moderna, Pfizer, Novavax NVAX, CureVac CVAC and BioNTech rose 13.7%, 3.6%, 5.3%, 18.8% and 11.1%, respectively, on Wednesday.
Some vaccine makers mentioned above are already developing a vaccine for bird flu. An article from Barron’s reported that Moderna is evaluating its bird flu vaccine in a mid-stage study.
Earlier this month, Novavax mentioned that it is conducting pre-clinical studies on a vaccine for H5N1 bird flu. NVAX claimed that this vaccine uses a new approach for immunizing against the virus.
Last month, CureVac announced that it has started a phase I/II study on its bird flu vaccine. CureVac is developing this investigational mRNA-based vaccine in collaboration with GSK.
The signs of a potential bird flu transmission have provided some respite to these vaccine-focused stocks, especially for those involved in the COVID-19 vaccine roll-out. Vaccine makers, especially Moderna and Pfizer, have been suffering a heavy beatdown in product sales and market value as COVID-19 cases have significantly dropped compared with the last couple of years. Investors are counting on these companies to lead the fight against the next pandemic if one does arise.
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
