Medicinal stock soars after new cancer vaccine data

Biotechnology company Moderna saw its stock price jump 85% at the opening of the U.S. stock market following the release of positive Phase 3 study results for a personalized cancer vaccine. The vaccine, developed in collaboration with Merck, targets melanoma.

The study's findings indicate that the mRNA-based vaccine, when used in conjunction with Merck's immunotherapy drug Keytruda, can significantly decrease the risk of melanoma recurring or spreading. This development marks a critical moment in cancer research, according to Moderna's CEO Stéphane Bancel.

"These phase 3 results represent a crucial moment for cancer research," Bancel stated in a press release. The trial results are based on studies involving over 1,100 participants. With these positive outcomes, Moderna and Merck are now closer to submitting an application for the vaccine's approval to the U.S. Food and Drug Administration.

Merck's stock also saw a boost, rising nearly 8% at the U.S. market opening. The successful trial results bring the companies a step closer to potentially offering a new treatment option for melanoma patients.

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These phase 3 results represent a crucial moment for cancer research