Pfizer (NYSE:PFE) stock and Moderna (NASDAQ:MRNA) stocks are in the news Wednesday as the Food and Drug Administration (FDA) approves new booster shots for Covid-19.
The new booster shots approved by the FDA are specifically for the omicron variant of Covid-19. That’s big news as this is the first time the FDA has approved updated vaccine formulas for the virus since December 2020.
This will allow U.S. citizens to get these new shots two months after completing their primary doses. The Pfizer one will be available to people ages 12 and up and the Modern one is approved for people 18 and older.
MRNA & PFE Stock: When Will the New Vaccines Rollout?
First off, the FDA’s approval doesn’t allow these vaccines to be used immediately. Instead, the vaccines will also need approval from the Centers for Disease Control and Prevention (CDC). CDC approval is expected.
If all goes well, the new Covid-19 omicron vaccines will be available sometime after Labor Day. It’s also worth noting that they will replace the original vaccines, which are losing effectiveness against newer strains of the virus, CNBC notes.
Despite the approval of new vaccines, PFE and MRNA stock aren’t seeing much action today. Both have lower-than-average trading volumes. PFE stock is also down almost 1% while shares of MRNA stock are down 1.5% as of Wednesday afternoon.
Investors looking for more hot stock market news are in luck!
InvestorPlace has all of the latest stock market coverage ready to go! That includes why shares of Longeveron (NASDAQ:LGVN) stock are moving, Express (NYSE:EXPR) stock taking a beating, and Netflix (NASDAQ:NFLX) bolstering its ad efforts with new hires. You can read up on all of that at the links below!
More Wednesday Stock Market News
- Why Is Longeveron (LGVN) Stock on the Move Today?
- Why Is Express (EXPR) Stock Down 20% Today?
- NFLX Stock Alert: Netflix Snags 2 Top Ad Execs From Snap
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
