Moderna's Cancer Vaccine Sparks Surge in Shares Amid Breakthrough Results

Moderna's shares surged as much as 160% after the company announced positive results from a late-stage trial of its personalized mRNA cancer vaccine, Intismeran. The vaccine, developed with Merck, reduced the risk of recurrence and spread of melanoma in high-risk patients, according to interim results.

The trial enrolled 1,137 patients who had undergone surgery to remove their tumors, and were randomized to receive up to nine doses of Keytruda, a widely used treatment for melanoma, plus the personalized vaccine or Keytruda alone. The companies said no new safety signals have emerged in the trial.

Moderna President Stephen Hoge called the result a 'landmark,' and said that given the vaccine's breakthrough therapy designation, it could be available as soon as next year. The cancer treatment combines Merck's Keytruda with a made-to-order mRNA vaccine from Moderna that is based on an analysis of mutations found in the patients' own tumors.

The results have sent shockwaves through the biotech sector, with the Nasdaq Biotechnology Index climbing 4.4% to a record high compared to a 0.4% gain in the S&P 500. Merck shares also surged 11% on hopes that the vaccine will expand its prospects in cancer.