Moderna Inc. and Merck & Co. announced on Wednesday that their personalized mRNA cancer vaccine met its primary and key secondary goals in a large, late-stage trial for melanoma. The study showed that the vaccine, when combined with Merck's immunotherapy drug Keytruda, was more effective at cutting the recurrence rate of melanoma and preventing its spread to new areas of the body compared to Keytruda alone. This marks a significant milestone for mRNA-based therapies in cancer treatment.
The positive trial results led to a dramatic increase in both companies' stock values. Moderna's stock surged by as much as 160% on Wednesday, with some reports indicating a 177% jump to $174.38. Merck's shares also saw a notable increase, rising by 12%. This success revitalizes hopes for mRNA technology beyond its application in COVID-19 vaccines and positions Moderna for a "second act" as a major drug developer.
Analysts are optimistic about the therapy's market potential. Barclays estimates that the personalized cancer vaccine could generate approximately $3 billion in melanoma sales by 2035. Stéphane Bancel, CEO of Moderna, highlighted the significance of the Phase 3 findings, stating they represent a "pivotal moment for the field of cancer research" and turn the "aspirational" idea of individualized mRNA cancer treatments into a reality.
