Why Moderna Stock Skyrocketed Today
Key Points
Moderna is working with Merck to advance personalized cancer treatments.
The companies are developing an investigational therapy to help people with melanoma stay cancer-free for longer.
- 10 stocks we like better than Moderna ›
Shares of Moderna (NASDAQ: MRNA) soared on Wednesday after the vaccine maker announced potentially game-changing progress in the fight against cancer.
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Landmark results
Moderna and Merck (NYSE: MRK) are co-developing an experimental mRNA-based therapy, intismeran autogene, that's designed to activate an anti-tumor immune response based on the unique mutations of a patient's tumor.
The two companies announced positive clinical trial results from a Phase 3 study evaluating intismeran in combination with Merck's Keytruda immunotherapy in patients with high-risk melanoma that had their tumors surgically removed.
The trial met its primary endpoint of recurrence-free survival, with a safety profile consistent with those observed in prior studies.
Commenting on the study, Moderna CEO Stéphane Bancel said:
These Phase 3 findings represent a pivotal moment for the field of cancer research. For many years, the idea of creating an mRNA treatment designed specifically for an individual patient's cancer was aspirational. We are now helping turn that vision into a reality.
Moderna and Merck intend to present more data from the study at an upcoming international medical meeting. The two companies also plan to speak with regulators regarding filing submissions.
Multiple potential use cases
Melanoma is one of the most dangerous forms of skin cancer. More than 8,500 people in the U.S. are projected to die from the disease this year alone.
Merck and Moderna have additional trials underway to evaluate intismeran in combination with Keytruda and other anti-cancer therapies across multiple tumor types, including lung, bladder, and kidney cancer.
Successful trials could position the two healthcare leaders to capture a larger share of the global oncology drug market, which is set to reach $275 billion by 2030, according to research from Nova One Advisor.
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Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Merck and Moderna. The Motley Fool has a disclosure policy.
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