Moderna stock price is skyrocketing on mRNA cancer vaccine trial news: Here’s what’s happening

Moderna and Merck revealed today that their personalized mRNA-based cancer vaccine, in conjunction with Merck’s immunotherapy drug Keytruda, achieved its primary goals in a late-stage trial. The ongoing study includes 1,137 patients with high-risk melanoma, a form of skin cancer, who had undergone surgery to remove the tumor. Early results show the vaccine reduced the risk of cancer coming back and the risk of it spreading to other areas of the body.

Stock prices for Moderna Inc (Nasdaq: MNRA) soared over 120% in early trading on Wednesday, reaching a peak not seen since mid-2024. Merck & Co Inc (NYSE: MRK) gained 11%. This announcement is significant as it marks the first positive Phase 3 result for a personalized cancer therapy, for any mRNA-based cancer treatment, and the first to outperform Keytruda alone.

After a tumor is removed through surgery, scientists analyze its DNA to pinpoint its unique mutations. A personalized vaccine, called Intismeran Autogene, is then created to match the patient's specific mutations, teaching the immune system to identify and attack those cancer markers. The vaccine is administered alongside Keytruda to enhance the body's ability to detect and tackle cancer cells.

Stéphane Bancel, CEO of Moderna, stated, "These Phase 3 findings represent a pivotal moment for the field of cancer research. For many years, the concept of developing an mRNA treatment specifically tailored to an individual patient's cancer was only a dream. We are now making that dream a reality." Merck and Moderna are currently conducting nine trials across various tumor types and stages of disease, including lung, bladder, and kidney cancers.