Stocks
Moderna Stock Surges on Positive Cancer Vaccine Trial Results
Moderna's stock price surged 9.4% in the afternoon session following positive Phase 3 trial results for its personalized cancer vaccine, intismeran autogene, alongside Merck's Keytruda in high-risk melanoma patients.
The news comes after previous gains from the clinical study and sustained investor optimism following the melanoma trial data per StreetInsider. The stock has also been bolstered by Wall Street upgrades from Argus and Bank of America.
Regulatory sentiment improved with the Food and Drug Administration's approval of Moderna's updated 2026-2027 COVID-19 vaccines, a development that follows a $2.6 billion convertible note offering completed in late August to provide dedicated funding for ongoing oncology development.