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Moderna stock surges 58% before Wall Street opening after phase 3 trial shows promising results for cancer vaccine targeting soft tissue cancer patients. CNBC reports the study, involving over 1,100 patients, aimed to extend survival time without cancer recurrence when combined with Merck's immune therapy. The drug's adjuvant plays a crucial role in enhancing the effectiveness of the treatment given post-surgery, according to Merck Research Laboratories President Dean Y. Li.
Moderna CEO Stéphane Bancel claims the study's findings represent "a decisive moment for the cancer research field." The results reduced the risk of cancer spreading to other body parts, according to the study. Analysts at Leerink Partners described the study's results as a decisive event for Moderna's stock, with the company's valuation already reflecting expectations that the vaccine could eventually work on multiple types of cancer, not just soft tissue cancer. Small movements can be seen on major indices during the pre-market session.
Written by urgent.news from E24 Norway's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
