Moderna has now swung violently in both directions for three straight sessions on the same unchanged clinical news, and the options chain hints at why this whipsaw is far from over.

Merck and Moderna's mRNA cancer vaccine hit its Phase 3 trial endpoint, showing improved recurrence-free survival in melanoma patients after surgery.

Moderna Inc. MRNA stock is trading lower after it rallied around 170% on Wednesday on upbeat data from individualized cancer therapy for advanced skin cancer. At a pre-planned interim analysis, Merck & Co Inc.

“It’s very exciting,” a melanoma expert said of the experimental cancer vaccine announced by pharmaceutical companies Moderna and Merck.

Merck (NYSE: MRK), known as MSD outside of the United States and Canada, and Moderna, Inc. (NASDAQ: MRNA) today announced positive topline results from the Phase 3 INTerpath-001 trial evaluating adjuvant treatment with intismeran autogene (intismeran;

Merck MRK is increasingly relying on the growing portfolio of newer products, recent acquisitions and pipeline candidates to support long-term growth as it prepares for the eventual loss of exclusivity (“LOE”) of the blockbuster cancer drug Keytruda.

Adults at high risk of melanoma recurrence and spread were able to stay cancer-free with personalized vaccines made with mRNA technology.

Investors had been pessimistic about the probability of success for the personalized cancer vaccine intismeran autogene, so the Phase 3 win was a welcome surprise.

MRK's Keytruda remains a key growth engine in 2026, but patent loss and rising competition could challenge its long-term sales momentum.

Merck (MRK) stock slips as RBC Capital Markets cuts on valuation while Morgan Stanley upgrades on trial data for Moderna (MRNA)-partnered cancer shot. Read more here.

Morningstar raised its 2035 Intismeran sales forecast to $16.8 billion and said the result “bodes well” for studies in larger cancers. ・Sellas’ Phase 3 GPS cancer vaccine targets WT1 and has previously been tested with Keytruda.