Moderna Shares Surge on Promising Cancer Treatment Results

Moderna's shares skyrocketed over 120% after announcing promising results from an experimental cancer treatment. The mRNA-based vaccine, called intismeran, is being developed in partnership with Merck and aims to be tailored to individual patients based on unique tumor mutations.

In a recent study, the combination of intismeran and Keytruda, another immunotherapy drug made by Merck, showed better results than using Keytruda alone. Patients who received the combination had longer survival rates without cancer returning or metastasizing compared to those who got Keytruda alone.

The companies did not release specific details on how long patients survived without cancer returning or whether they lived longer overall, but plan to present the study results at an upcoming international medical meeting. Moderna's shares rose to $140.12 a share, while Merck's shares increased by about 11%.