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Moderna’s late-stage cancer vaccine win sparks biotech surge
Moderna shares closed up 177% after the personalized mRNA cancer vaccine trial reduced the risk of melanoma recurrence, while the iShares Biotechnology ETF is up about 25% year to date.
Biotech stocks jumped after Moderna reported that its personalized mRNA cancer vaccine, developed with Merck, became the first such therapy to succeed in a late-stage trial, with results showing reduced risk of melanoma recurrence, according to MarketBeat Ratings.
Moderna’s stock closed up 177% on the day, and the outlet said the breakthrough validated the broader mRNA platform and could mark a potential turning point for cancer treatment.
The rally comes as the iShares Biotechnology ETF has climbed about 25% year to date, with much of that gain occurring in the last 30 days when it hit a fresh 52-week high.
Within the sector, MarketBeat Ratings highlighted Eli Lilly and Natera as names with strong uptrends, noting Lilly rose over 15% year to date and jumped about 4% on Wednesday to close just below its 52-week high, as the company continues its push into oral GLP-1 medications.