Merck, Moderna and melanoma
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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.
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.
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Shares of Moderna (NASDAQ:MRNA | MRNA Price Prediction) are rocketing higher Wednesday morning, with the stock up 93% to $121.76 in early Wednesday trading after the company and partner Merck (NYSE:MRK) announced that their Phase 3 melanoma trial met its primary endpoint.