Moderna Soars 150% as mRNA Cancer Vaccine Hits Phase 3 Win
MRNA has more than doubled off its 52-week low of $22.28 on elevated volume (14× avg).
Summary
Moderna's stock exploded 150% on Wednesday after its personalized mRNA cancer vaccine, intismeran autogene, combined with Merck's Keytruda, met its primary endpoint in a Phase 3 melanoma trial. The trial involved 1,137 patients with resected stage IIB-IV melanoma and showed improved recurrence-free survival and distant metastasis-free survival with no new safety concerns. This is the first Phase 3 win for an individualized neoantigen therapy and the first for any mRNA-based cancer treatment, validating Moderna's platform beyond COVID-19. The market reaction was historic: over 74 million shares traded in the first hour versus a 5.8 million 10-day average, adding roughly $38 billion in market value. Merck shares also jumped 11%, their best day since March 2009. The stock traded at $158.34, 44% above the highest analyst price target of $110, underscoring how dramatically Wall Street had underestimated this outcome. The $30 billion gain implies many cancer successes.
At the time of this announcement, MRNA was trading at $144.93 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $25.1B. The 52-week trading range was $22.28 to $163.47. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Benzinga.