Benzinga | Sep 28, 2021 07:53AM EDT

Sanofi Stops Work On Its mRNA COVID-19 Vaccine: What You Need To Know

* Sanofi SA (NASDAQ:SNY) is dropping plans for its mRNA-based COVID-19 vaccine because it believes it will be too late in reaching the market, STAT news reported.

* Sanofi says that the market is well-served with the dominant role of BioNTech SE (NASDAQ:BNTX) - Pfizer Inc (NYSE:PFE) alliance and Moderna Inc (NASDAQ:MRNA).

* Instead, the Company will focus on GlaxoSmithKline plc (NYSE:GSK)-partnered protein-based COVID-19 vaccine candidate.

* Related Content: Sanofi, GSK Start Final Testing Phase Of COVID-19 Vaccine.

* The decision to drop clinical development of the mRNA shot, acquired as part of its takeover of Translate Bio, came despite positive Phase 1/2 interim study results.

* Related Link: Sanofi Bets Big On mRNA Push With Translate Bio Acquisition For $3.2B: Highlights

* The Company said it started testing an mRNA shot against seasonal influenza in humans in June and will launch follow-on clinical studies next year.

* Interim results from the Phase 1/2 trial showed that neutralizing antibody levels increased four-fold two weeks after a second injection across all 3 dosages tested.

* No safety concern has been observed, and the tolerability profile is comparable to that of other unmodified mRNA COVID-19 vaccines.

* Also Read: Analyst Upgrades Sanofi On COVID-19 Vaccine Optimism.

* Price Action: SNY stock is up 0.17% at $48.20 during the premarket session on the last check Tuesday.

* Photo by hakan german from Pixabay