The FDA reversed its decision and will now review Moderna's flu vaccine application. The reversal followed criticism from Moderna and the biotech industry.

Moderna makes a new type of flu vaccine using mRNA technology. The FDA will decide on the vaccine by August 5, 2026.

This decision will determine if Moderna can offer the vaccine for the upcoming flu season. Moderna's stock price rose 6% after the FDA's reversal.

The FDA had initially refused to review the application. This refusal had sparked concerns about the agency's stance on vaccines.