Moderna Surges Over 500% Year-to-Date on Cancer Therapy Breakthrough
Moderna's stock has surged by almost 500% year-to-date, outperforming both Nvidia and Micron in the S&P 500.
The company's mRNA vaccine played a crucial role during the pandemic, but investor confidence was dented by several factors, including lower Covid sales, financial losses, a hostile Trump administration, guidance cuts, and earnings downgrades.
The recent epic jump higher was due to a positive readout from Moderna's personalised mRNA cancer therapy, developed with partner Merck. This therapy showed a reduction in the risk of melanoma recurrence and spread in a late-stage study when used with Keytruda.
An analyst at Leerink Partners estimates this cancer therapy could generate $1.4 billion in sales by 2032, but the share price remains volatile due to short sellers covering their positions.