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 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.

The current public-health risk is low, but the CDC is working with states to monitor people with animal exposure.

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

The latest funding is a sign of how seriously the Biden administration appears to be taking the pandemic threat.

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