Merck Stock Hits New High on Positive Cancer Therapy Data

Merck's stock is trading near its 52-week high of $156.92 reached on Aug. 25, at around $150.33. The company's positive top-line data from a phase III study with ModernaMRNA has boosted investor confidence in Keytruda, Merck's PD-L1 inhibitor.

The study evaluated the personalized cancer therapy combo as an adjuvant treatment for patients with completely resected stage IIB-IV melanoma. The combination met its primary endpoint of recurrence-free survival and key secondary endpoint of distant metastasis-free survival.

Keytruda is a crucial part of Merck's growth strategy, accounting for over 55% of the company's pharmaceutical sales. Merck expects the drug to continue growing until it loses patent exclusivity in 2028.