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Moderna stock jumps 177% on melanoma vaccine trial results
The late-stage study involved more than 1,100 high-risk patients and the vaccine, used with Merck's immunotherapy, outperformed Merck's therapy alone.
Moderna Inc. shares surged 177% in a single session to a multi-year high after late-stage trial results for an experimental personalized skin cancer vaccine sparked a repricing of the biotech, according to MarketBeat Ratings. The stock has risen about 465% so far this year.
The treatment is designed for melanoma and uses Moderna's messenger RNA technology, developed in partnership with Merck & Co. The trial tested the vaccine in combination with Merck's immunotherapy drug, and the company said the combo meaningfully outperformed Merck's therapy used on its own.
MarketBeat Ratings reports the study enrolled more than 1,100 high-risk patients and found the vaccine reduced the risk of cancer returning and slowed its spread. The outlet also notes the company characterized the result as the first time any late-stage trial improved the established treatment in this setting.
The scale of the one-day move, as described by MarketBeat Ratings, was driven in part by what investors saw as broader validation of Moderna's cancer vaccine approach using mRNA, with a pipeline that includes similar programs targeting cancers of the lung, kidney, and bladder.