FDA grants full approval to Moderna’s COVID-19 vaccine

Shares of Moderna Inc. gained 3.4% in trading on Monday after the company said it received full approval from the Food and Drug Administration for its COVID-19 vaccine, which is now called Spikevax. The FDA has granted full approval to one other COVID-19 shot: BioNTech SE and Pfizer Inc.’s Comirnaty. The Spikevax approval is for adults, though the vaccine still has emergency authorization for use in teens and as a booster dose. Moderna’s stock is down 4.5% over the past year, while the broader S&P 500 is up 17.0%.

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