GSK's mRNA flu vaccine data closely tracks Moderna's, Deutsche Bank says

GSK's experimental mRNA flu vaccine produced data that closely resemble Moderna's own candidate, according to Deutsche Bank. Analyst Emmanuel Papadakis reviewed detailed phase II results GSK presented at the OPTIONS XIII Conference for the Control of Influenza last weekend. Deutsche Bank said the findings translate into only "a very minor positive" for the pharmaceutical group, given Moderna remains further ahead in development. The bank remains circumspect on the prospects for Moderna's own mRNA flu launch, tempering the read-across for GSK. Papadakis noted that the disruptive threat mRNA technology once appeared to pose to traditional egg-based flu vaccines has faded well beyond the pandemic and post-pandemic period. Deutsche Bank said it will continue tracking the mRNA flu space closely through weekly trackers, including any developments from Moderna, Sanofi and BioNTech. The bank pointed out that GSK carries some insulation regardless of how the mRNA race develops, thanks to its position as the number two player in the conventional flu vaccine market. Deutsche Bank kept its rating on GSK at 'hold', with a target price of 2,000p. That compares with the shares' current price of 1,859p.