Moderna Stock Plunges 25%—Wiping Out $18 Billion
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Personalized mRNA shots may prove neither as wide-reaching nor as lucrative as hoped.
Moderna shares rise to close out a week of wild swings. Crypto stocks also extend their recent rally.
Shares of Moderna rocketed by 93% to around $121.90 on Wednesday, pacing what would be the stock’s best-ever trading session after surging by more than 100% in premarket trading. That came after Moderna and Merck announced their personalized cancer vaccine helped cut the recurrence of melanoma—a form of skin cancer—in a late-stage trial involving more than 1,
Moderna stock surged on Phase 3 mRNA cancer vaccine results with Merck, breaking key moving averages and hitting record RSI.
Moderna has been looking for its next blockbuster drug after a wildly successful COVID era.
Shares of biotechnology company Moderna (NASDAQ:MRNA) fell 20% in the morning session after investors took profits as the stock surged over 175% in the previous session on positive clinical trial news.
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.
Drug company stocks soared following news that Moderna and Merck’s experimental mRNA-based cancer vaccine succeeded in a late-stage trial at preventing m
Moderna MRNA stock fell 20%% to $138, compared with Wednesday’s close of $174.38. The decline followed a more than doubling of the shares on August 19 after Moderna and Merck announced positive results from the Phase 3 INTerpath-001 study of their personalized mRNA cancer vaccine, intismeran autogene.