Moderna, melanoma vaccine and Merck
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Moderna and Merck announced study results that reflect a "landmark moment" in treatment for one of the deadliest forms of skin cancer.
The trial met both endpoints in the readout, removing the inconclusive outcome management itself had flagged, and short sellers in the stock took a record single-session loss.
Moderna has been looking for its next blockbuster drug after a wildly successful COVID era.
Moderna shares jumped this week after the company announced encouraging results from a late-stage melanoma trial.
Moderna Inc (NASDAQ:MRNA, XETRA:0QF)'s melanoma trial success is prompting Wall Street to assign new platform value to the company's oncology pipeline, Jefferies said, as investors look beyond its COVID-dependent revenue base.
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.