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.

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.

Doctors and patients are excited about the possible breakthrough, but some analysts believe there’s too much hype.

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.

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;

Today, Aug. 19, 2026, Moderna's personalized cancer vaccine met its late-stage goal, with the company and Merck planning an FDA submission.

The late-stage melanoma trial with Merck’s Keytruda shows both lower recurrence and less spread, with no new safety signals—this is the clearest proof yet that Moderna’s personalized mRNA can work as an add-on to a major checkpoint therapy.

Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »