Moderna has been awarded approximately $590 million from the federal government to help speed up the development of an mRNA-based bird flu vaccine, health officials said.

The U.S. government has awarded Moderna $590 million to advance the development of its bird flu vaccine, as the country doubles down on efforts to tackle increasing infections in humans.

The US Department of Health and Human Services will award $590 million to Moderna to continue developing a vaccine to protect against bird flu, the pharmaceutical company announced Friday.

US health officials announced Friday they were awarding $590 million to Moderna to develop mRNA vaccines against influenza, including advancing the company's bird flu vaccine, as fears of a new pandemic grow.

Moderna receives $590M contract from HHS for mRNA-based bird flu vaccine; up 4% in after-hours trading. Read more here.