Moderna Inc. MRNA, +4.37% said it and GAVI, the Vaccine Alliance supplying vaccines to low- and middle-income countries, have agreed to cancel remaining orders under their 2022 COVID-19 vaccine agreement given “sufficient supply.” The biotechnology company has supplied Gavi with nearly 70 million doses of COVID-19 vaccines, in addition to facilitating the donation of more than 100 million doses. Moderna and Gavi said they will create a new framework that enables Gavi to buy up to 100 million COVID-19 vaccine doses in 2023. Moderna’s stock, which rose 0.8% in premarket trading, has tumbled 19.7% over the past three months through Friday, while the S&P 500 SPX, +2.75% has lost 7.3%.
