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Moderna revised its application following the FDA's surprise decision not to review the flu shot.

Moderna said Wednesday the Food and Drug Administration changed course and will review an amended application for its new flu vaccine, a week after rejecting the original submission and fueling drugmaker and investor concerns over policy changes at the agency under Donald Trump.

Shares of the vaccine maker closed up 6% on Wednesday after falling as much as 12% just after the FDA refusal became public. The FDA is expected to make a decision on the vaccine by August 5.

The reversal, which could clear the way for the first mRNA-based flu vaccine in the United States, also underscores the volatility at the FDA, which has seen top career officials depart under Health Secretary Robert F. Kennedy Jr.