Moderna shares rose nearly 2% in premarket trading

Moderna shares rose nearly 2% in premarket trading.The Food and Drug Administration granted full approval on Monday (Jan 31) to Moderna's coronavirus vaccine, the second-most widely used in the United States and the second to receive full regulatory approval.

The vaccine, which can be administered to adults and has been shown to be highly effective at preventing virus infections and severe cases of Covid-19, has been in use for more than a year under an emergency-use authorisation.

That rigorous standard lets federal regulators allow use of the shot in a public health emergency before they complete a longer and more detailed review.

The vaccine received emergency-use authorisation in December 2020.