Moderna Cancer Vaccine Surges to New Heights After Breakthrough Results

Moderna's stock price has surged by 8% as investors react to promising late-stage results for its personalized mRNA cancer vaccine. The treatment, developed with Merck's Keytruda, significantly reduced the risk of melanoma recurrence or death in patients with high-risk melanoma.

The Phase 3 success of intismeran autogene has led to a sharp reassessment of Moderna's prospects as it seeks to expand beyond its COVID-19 vaccine business. The company and Merck announced the results from the INTerpath-001 trial on August 19, which involved over 1,100 patients with high-risk melanoma.

The combination of intismeran autogene and Keytruda improved recurrence-free survival compared to Keytruda alone. This is considered a major breakthrough as it marks the first positive Phase 3 result for a personalized mRNA cancer vaccine.

Several Wall Street firms have raised their expectations for Moderna following the cancer vaccine results, with Argus Research upgrading the stock to Buy and setting a price target of $180 on August 28. However, Rothschild & Co cut its rating to Sell but increased its price target to $81 on September 3.