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Shares of COVID vaccine manufacturers Moderna and Pfizer fell early Friday morning, down 4% and 4.3% respectively.<\/p>\n<\/p>\n
This is different than traditional vaccines where a harmless version of a virus or bacteria is used to trigger an immune response. Moderna had been working on this technology for nearly a decade before the pandemic broke out, putting the company in a position to get a vaccine to market very quickly. Moderna Inc., founded in 2010, is a biotechnology company focused on creating transformative medicines to combat viruses and other diseases. The company utilizes messenger ribonucleic acid (mRNA) technology, which transports information from a living creature’s DNA to other parts of the body. The company has experienced rapid growth due to its innovative mRNA technologies, especially as the U.S. authorized the COVID-19 vaccine developed by Moderna Inc. for human use in December 2020. Several other institutional investors and hedge funds also recently added to or reduced their stakes in MRNA.<\/p>\n<\/p>\n