💉 Moderna slows Phase 3 vaccine trials: Details inside 👇

Moderna says it does not plan to put new money into additional late-stage vaccine trials, a notable shift for a company that became a major vaccine developer during the pandemic and still has multiple vaccine candidates in its pipeline.

CEO Stéphane Bancel said Jan. 22, 2026 that the company does not plan to invest in new late-stage vaccine trials because of growing opposition to immunizations from U.S. officials. He made the remarks in an interview with Bloomberg TV on the sidelines of the World Economic Forum in Davos, Switzerland. Following the comments, Moderna shares jumped more than 10% in morning trading.

Bancel linked the decision to the economics of running large, expensive trials when access to the U.S. market is uncertain. He said regulatory delays and limited support from authorities have reduced the potential market size, making it harder to justify the investment. He pointed to recent shifts in federal health policy, including changes affecting COVID-19 vaccination recommendations, actions aimed at limiting state vaccine mandates, and cuts to funding tied to mRNA-based vaccine research.

The move comes as Moderna continues to adapt to the post-pandemic market, where demand for COVID-19 shots is lower than during peak years. The company has recently highlighted efforts to manage costs while pursuing product approvals and trial readouts across vaccines and other programs.

Do you think policy uncertainty should affect whether companies invest in new vaccine trials?