Moderna says their newest Covid vaccine is showing signs of stronger immune response against the virus than the current shot being offered – and longer shelf-life. 

Approximately 11,400 people ages 12 and older participated in the third phase of the trial throughout the U.S., U.K. and Canada. The new shot revealed higher immune responses against the omicron subvariants BA.4 and BA.5 and the original strain of the virus. With a higher rate than the vaccine targeting the same variants, the benefits proved to be sharp in patients over the age of 65, who have the highest risk of health ailments from Covid. 

With their current vaccine, Spikevax, being the only one available commercially, this victorious news comes as Moderna continues on the competitive path with rival Pfizer to share more of the vaccine market. They are also trying to diversify revenue streams after the demand for Covid products plummeted last year. 

The new shot is designed to last longer when it stays refrigerated, making it easier to distribute globally, especially in countries with limited freezing abilities. Another critical component of the new shot is the combination of the vaccine being able to tackle Covid and the flu. Both competing pharmaceutical companies said there is a “convenience” in being protected about the viruses at once and adds a sense of encouragement for more people to get vaccinated. 

However, the good news doesn’t seem to be impressing investors. According to Quartz, stock in Moderna plummeted down almost 3% during afternoon trading on Mar. 26, adding to the 28% drop over the last 12 months. Surprisingly the company managed to report a profit of $217 million in the fourth quarter but that hasn’t stopped the current Moderna product from dwindling in the last year. During the fall 2023 COVID season, Moderna climbed to 48% market share in the U.S. in comparison to 37% in 2022.

This isn’t stopping Moderna from pressing forward in the fight against diseases. They are reportedly working on developments of a shot that fights against the flu, cancer and more. Their vaccine against respiratory syncytial virus – or RSV – is hoping to have the approval of the Food and Drug Administration (FDA) by May 2024. 

After first announcing during the annual research and development day in September 2023, Moderna introduced plans of adding 15 products to their roster over the next five years.