Robbins LLP reminds investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Moderna, Inc. (NASDAQ: MRNA) securities between January 18, 2023 and June 25, 2024. Moderna is a biotechnology company that discovers, develops, and commercializes messenger RNA (“mRNA”) therapeutics and vaccines for the treatment of infectious diseases, immuno-oncology, rare diseases, autoimmune, and cardiovascular diseases in the U.S., Europe, and internationally.
The Allegations: Robbins LLP is Investigating Allegations that Moderna, Inc. (MRNA) Misled Investors Regarding the Efficacy of its RSV Vaccine
According to the complaint, the Company’s products include, inter alia, mRESVIA (mRNA-1345), an mRNA respiratory syncytial virus (“RSV”) vaccine, intended to protect adults aged 60 years and older from lower respiratory tract disease caused by RSV infection. Plaintiff alleges that during the class period, defendants failed to disclose that: (i) mRNA-1345 was less effective than defendants had led investors to believe; (ii) accordingly, mRNA-1345’s clinical and/or commercial prospects were overstated; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.
When the truth regarding the vaccine’s lack of efficacy was revealed, the price of Moderna’s stock declined. On June 26, 2024, the price of Moderna’s stock fell approximately 11%.
