Moderna Surges 18% on NIH Cancer Vaccine Push and Nasdaq-100 Entry
MRNA has more than doubled off its 52-week low of $22.28.
Summary
Moderna shares jumped 18% last week to a four-year high after the NIH announced a public-private effort to accelerate cancer vaccines, and the stock joined the Nasdaq-100 index. The move builds on August's 177% surge when its personalized mRNA cancer vaccine with Merck met its Phase 3 primary endpoint. Full Phase 3 data is expected later this month, with regulatory approval targeted for next year. The NIH initiative and index inclusion add fresh momentum beyond the already-reported trial success.
At the time of this announcement, MRNA was trading at $225.71 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $89.8B. The 52-week trading range was $22.28 to $225.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.