Moderna's stock price more than doubled, increasing by 145% to $154.48 and touching an intraday high of $163, after the company announced positive results from a late-stage trial of its personalized mRNA cancer vaccine for melanoma. Merck, Moderna's development partner, also saw its shares rise by 10.6% to $149.52. This surge reflects investor optimism for the new cancer treatment and the potential for a new era for Moderna beyond its COVID-19 vaccine.
The experimental mRNA vaccine, mRNA-4157 (also known as V940 or intismeran), when used in combination with Merck's immunotherapy drug Keytruda, demonstrated a significant reduction in the risk of melanoma recurrence and spread. The Phase 3 study focused on patients with high-risk melanoma who had already undergone surgery to remove their tumors. This success marks the first time a therapy of its kind has achieved its main goals at such an advanced stage of clinical testing.
The positive trial data suggests that thousands of patients who have had high-risk melanoma tumors surgically removed could benefit from this new treatment as early as next year, pending regulatory approvals. Analysts from Barclays estimated that the therapy could generate approximately $3 billion in melanoma sales by 2035. The results build upon positive Phase 2 data for the same regimen, further solidifying the potential impact of this personalized cancer vaccine.
Moderna's CEO, Stephane Bancel, called it "a big moment for medicine, a big moment for patients." The initial data shows the combination regimen significantly extended the time patients lived without their melanoma returning and also reduced the risk of the cancer spreading to distant parts of the body. The Phase 3 study will continue to assess other outcomes, including overall survival benefits. Merck and Moderna are also exploring this vaccine technology in trials for other cancer types, including non-small cell lung cancer, bladder cancer, and renal cell carcinoma.
