According to the Complaint, Moderna, Inc. is a biotechnology company that discovers, develops, and commercializes messenger RNA (“mRNA”) therapeutics and vaccines for the treatment of infectious diseases, immuno-oncology, rare diseases, autoimmune, and cardiovascular diseases in the U.S., Europe, and internationally. The Company’s products include, inter alia, mRESVIA (mRNA-1345), an mRNA respiratory syncytial virus (“RSV”) vaccine, intended to protect adults aged 60 years and older from lower respiratory tract disease caused by RSV infection.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) mRNA-1345 was less effective than Defendants had led investors to believe; (ii) accordingly, mRNA-1345's clinical and/or commercial prospects were overstated; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.