Moderna Inc (NASDAQ:MRNA) shares are trading higher. The company on Monday announced positive Phase 3 trial data for its combination vaccine against Influenza and COVID-19.

What Happened: Moderna said its Phase 3 trial of mRNA-1083, an investigational combination vaccine against influenza and COVID-19, met its primary endpoints after eliciting a higher immune response than the licensed comparator vaccines used in the trial.

Moderna's mRNA-1083 comprises components of mRNA-1010, the company's vaccine candidate for seasonal influenza, and mRNA-1283, its next-generation COVID-19 vaccine candidate.

"Combination vaccines have the potential to reduce the burden of respiratory viruses on health systems and pharmacies, as well as offer people more convenient vaccination options that could improve compliance and provide stronger protection from seasonal illnesses. Moderna is the only company with a positive Phase 3 flu and COVID combination vaccine," said Stéphane Bancel, CEO of Moderna.

Moderna plans to present the Phase 3 clinical data for mRNA-1083 at an upcoming medical conference and submit it for publication. The company said it will engage with regulators about its next steps.

MRNA Price Action: Moderna shares were up 1.32% at $153 at the time of publication, according to Benzinga Pro.

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