Moderna's Cancer Breakthrough Sends Stocks Soaring

Moderna and Merck shares have surged after a recent study on an mRNA-based cancer vaccine showed promising results. The customized therapy, which could be launched commercially next year, demonstrated a clinically meaningful improvement over treating high-risk melanoma with Keytruda alone.

The combination treatment, known as intismeran, was tested in over 1,100 patients who had been surgically removed. The mRNA-based drugs essentially train the immune system to find mutations that cause tumors, offering a contrast to chemotherapy which damages or destroys cancer cells.

Moderna President Stephen Hoge said that this marks a turnaround for the company, whose market value plummeted over 90% after COVID vaccine demand declined post-pandemic. The FDA has also approved Moderna's new mRNA seasonal flu vaccine.