Moderna Shares Soar 176%, Bitcoin Tops $68,000 Amid Bond Buybacks

Moderna's shares skyrocketed over 176% after its personalized mRNA cancer vaccine achieved positive late-stage trial results when combined with Merck's Keytruda. The treatment, Intismeran, uses genetic information from a patient's tumor to create a tailored vaccine that trains the immune system to target and destroy cancer cells. The phase-three trial enrolled 1,137 patients with high-risk stage IIB to stage IV melanoma whose tumors had been surgically removed.

The interim results showed that the treatment met its primary goal of reducing cancer recurrence and its secondary goal of preventing the cancer from spreading. Analysts at Barclays expect this melanoma treatment could eventually generate around $3 billion in annual sales by 2035.

In other news, Marvell Technology's stock rose 9% after the company expanded its partnership with Google. The agreement includes a warrant for Google to purchase up to 58.97 million shares of Marvell at an exercise price of $206.58 per share, potentially worth around $12.2 billion and representing roughly 7% of Marvell's outstanding shares.

Bitcoin climbed about 5.8% over 24 hours to $68,370, moving above $68,000 for the first time since June. This rally in Bitcoin was supported by lower Treasury yields after the US Treasury announced plans to double its bond buyback operations. Large holders have also returned to accumulation, with CryptoQuant data showing that they accumulated around 43,000 tokens over the past 60 days, worth roughly $2.75 billion at current prices.

Gold prices surged 4% to $4,509.54 an ounce, their highest level since June 4, following the Treasury's decision to double its liquidity-support buyback operations for longer-dated bonds.