(Bloomberg) -- Moderna Inc.'s vaccine for Covid-19 received full approval from the U.S. Food and Drug Administration for people 18 and older, an important milestone that bolsters the shot's use as a major weapon against the virus.
The vaccine, which goes by the brand name Spikevax, had previously been available to adults in the U.S. under an emergency use authorization from the FDA. But the full clearance lets Moderna market the vaccine to adults with the full imprimatur of the FDA.
Moderna shares climbed 2.8% to $163.93. The company began its rolling submission for the approval last June. Pfizer Inc. has the only other fully authorized vaccine in the U.S., cleared by the FDA in August.
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