Shares of Moderna were down 2.0% in trading on Friday after the company said its COVID-19 vaccine was authorized in South Korea for use in adults. South Korea has already purchased 40 million doses of the two-dose, mRNA vaccine. The news from the Ministry of Food and Drug Safety of South Korea follows Japan’s decision on Thursday to approve Moderna’s shot. The company’s stock is up 55.6% for the year, while the broader S&P 500 has gained 10.7%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.