Moderna-Merck Cancer Vaccine Hailed as Breakthrough

A groundbreaking mRNA vaccine developed by Moderna (NASDAQ:MRNA) and Merck & Company (NYSE:MRK) has shown promising results in a late-stage clinical trial, sending shares of both companies soaring.

The Phase 3 study tested the personalized vaccine, named intismeran, in combination with Merck's immunotherapy drug Keytruda against Keytruda alone in 1,137 high-risk melanoma patients who had undergone surgery to remove their tumors.

The combination regimen met its primary endpoint by significantly extending recurrence-free survival and achieved its secondary goal of reducing the risk of cancer metastasizing to distant organs.

Moderna shares surged as much as 177 percent to a two-year high of US$174.93, adding roughly US$30 billion to the company's market capitalization as trading volume topped 15 times its 50-day average.