Moderna stock gains on rising flu cases

Investing.com — Shares of Moderna (NASDAQ:) and CureVac (NASDAQ:CVAC) are climbing in Tuesday’s premarket trading as seasonal flu cases in the United States show a marked increase. Moderna’s stock rose 3.4%, while CureVac’s shares soared by 5%, extending gains from yesterday.

The upward trend in these biotech stocks comes amid broader gains in the vaccine sector, with Novavax (NASDAQ:) and BioNTech (NASDAQ:) also experiencing upticks of 7.3% and 1.2%, respectively. This rally follows a recent update from the Centers for Disease Control and Prevention (CDC), which reported a surge in flu activity across most of the country, with a significant rise in both influenza A(H1N1)pdm09 and A(H3N2) viruses.

The CDC’s latest figures indicate a worrying trend, with 18.7% of clinical lab tests coming back positive for influenza, an increase from the previous week. Outpatient visits for respiratory illness have also risen to 6.8%, remaining above the national baseline for the fifth consecutive week.

In addition to the seasonal flu’s impact, the market’s attention has been drawn by the first reported death from bird flu in the United States, confirmed by the Louisiana Department of Health. The individual, aged over 65 with pre-existing medical conditions, contracted the virus through exposure to a non-commercial backyard flock and wild birds.

The CDC has reiterated its recommendation for annual flu vaccinations for everyone aged 6 months and older and emphasized the importance of prompt antiviral treatment, particularly for those at higher risk of severe illness. With at least 5.3 million flu cases, 63,000 hospitalizations, and 2,700 deaths attributed to the flu this season, the health agency is closely monitoring flu alongside other respiratory viruses, including COVID-19 and RSV.

Investors appear to be responding to the increased demand for vaccines and treatments due to the heightened flu activity, which is likely to continue as the season progresses. The market’s response to these developments reflects the critical role vaccine developers play in public health, particularly during periods of elevated disease prevalence.

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