Moderna jumps 60% as melanoma vaccine with Merck succeeds in late-stage trial
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Moderna shares jumped 60% in premarket trading on Wednesday after its melanoma vaccine, developed with Merck, succeeded in a late-stage trial. The interim analysis showed the treatment met both its primary goal of reducing cancer recurrence and its secondary goal of preventing cancer spread. Merck shares also advanced, with reported premarket gains ranging from 6% to 7.5%.
Key Facts
- Moderna shares rose 60% in premarket trading on Aug 19 after the company and Merck reported the trial results.
- The combination of Moderna's mRNA vaccine and Merck's Keytruda met its primary goal of reducing cancer recurrence and secondary goal of preventing cancer spread in an interim analysis.
- Reuters reported Merck shares rose 7.5% in premarket trading.
- Yahoo Finance reported Merck shares gained 6% in premarket trading.
Late-Stage Trial Results
Moderna and Merck said on Wednesday that the mRNA vaccine Intismeran, combined with Merck’s immunotherapy Keytruda, succeeded in a late-stage trial for skin cancer. The study is ongoing, but interim results found the treatment met its primary target of reducing cancer recurrence and its secondary goal of keeping cancers from spreading. Professor Georgina Long, the study’s principal investigator and medical director of Melanoma Institute Australia, called the results 'a landmark moment for adjuvant melanoma treatment.' Moderna said the therapy delivered the first positive outcome in a late-stage trial for an mRNA cancer vaccine.
Market Reaction
Moderna shares surged 60% in premarket trading on Aug 19. The stock reached its highest level since 2024 in premarket trading. Reuters reported Merck shares rose 7.5% in premarket trading, while Yahoo Finance reported a 6% gain. Barclays analysts estimated the therapy could generate about $3 billion in melanoma sales by 2035. Analysts had noted the cancer vaccine data could be an important catalyst for Moderna and potentially strengthen investor sentiment.
Moderna Pipeline Diversification
Moderna has been diversifying its portfolio beyond its COVID-19 vaccine. The company recently added an FDA-approved flu vaccine while developing experimental shots for diseases including norovirus and Lyme disease. Moderna became a corporate hero during the pandemic as it rushed to develop a Covid-19 vaccine, but demand has since weakened.
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Moderna jumps 60% as melanoma vaccine with Merck succeeds in late-stage trial
