Moderna's Cancer Therapy Breakthrough Sends Shares Soaring

Moderna's shares surged to multi-year highs after the company announced that its MRNA-Q personalized mRNA cancer therapy, developed in collaboration with Merck (MRK-N), achieved significant results in a late-stage trial.

The treatment, Intismeran, combined with immunotherapy drug Keytruda, reduced the risk of recurrence and spread of skin cancer in patients who had undergone surgery for high-risk melanoma. Interim results from the ongoing study found that Intismeran met both its primary target of reducing cancer recurrence and its secondary goal of preventing tumors from spreading to other parts of the body compared with Keytruda alone.

This breakthrough therapy designation could lead to availability as soon as next year, according to Moderna President Stephen Hoge. The companies are already in talks with regulators about the treatment. Hoge called the result a landmark: 'This is the first time that we've seen really clinically significant, statistically significant improvements over checkpoints like Keytruda in this population, and it is the first time we've done that with an individualized treatment.'

Analysts expect the therapy to generate annual sales of around $3 billion for treating melanoma by 2035. The launch of Intismeran in adjuvant melanoma will be key to Moderna's return to profitability, according to J.P. Morgan analysts.