PFE, MRNA stocks: What you need to know as FDA approves new booster shots

Pfizer (NYSE:PFE) supplies and Modern (NASDAQ:MRNA) shares were in the news on Wednesday as the Food and Drug Administration (FDA) approved new booster vaccines for Covid-19.

New FDA-approved booster shots are specifically for micron version of Covid-19. This is big news, as the FDA has approved updated vaccine formulas for the virus for the first time since December 2020.

This will allow US citizens to receive these new injections two months after completing the primary doses. Pfizer one will be available to people aged 12 and over, while modern is approved for people aged 18 and over.

MRNA & PFE stock: When will new vaccines be introduced?

First, FDA approval does not allow immediate use of these vaccines. Instead, vaccines will also need approval from the Centers for Disease Control and Prevention (CDC). CDC approval is pending.

If all goes well, the new covid-19 vaccines will soon be available sometime after Labor Day. It is also worth noting that they will replace the original vaccines, which lose their effectiveness against newer strains of the virus, CNBC notes.

Despite the approval of new vaccines, there is not much action on PFE and MRNA stocks today. Both have lower than average trading volume. PFE shares were also down nearly 1%, while MRNA shares were down 1.5% as of Wednesday afternoon.

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As of the date of publication, William White did not hold (directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer and are the subject of InvestorPlace.com Publishing Guidelines.