mRNA Technology Sector Sees Momentum Regain Following Challenging Year
The mRNA technology sector has regained momentum following a challenging year marked by funding cuts and skepticism. The turnaround is attributed to recent successes, including the FDA approval of Moderna's flu vaccine and Merck and Moderna's Phase 3 win for their personalized cancer vaccine.
Jeff Coller, professor of RNA Biology and Therapeutics at Johns Hopkins University, says these developments 'underscore the promise of the technology and reinvigorate the space.'
Amy Walker, CEO of 4basebio, notes that sentiment is shifting, with many now acknowledging mRNA's potential. Andrew Tsai, managing director at Jefferies, attributes this change to Merck and Moderna's Phase 3 readout, which has shown intismeran autogene in combination with Keytruda improving outcomes in melanoma patients.
This success contrasts with the challenges faced by mRNA companies last year. The Department of Health and Human Services terminated around $500 million in contracts associated with mRNA vaccine development, affecting companies like Moderna, Pfizer, and AstraZeneca.