Moderna shares surge after it says experimental mRNA cancer treatment passed key test

Moderna's shares surged over 120% on Wednesday following the announcement of promising initial results for an experimental cancer treatment. The biotechnology company and its partner, Merck, are developing a novel mRNA-based cancer vaccine called intismeran. This vaccine is designed to be personalized, targeting the unique mutations found in individual patients' tumors.

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Moderna shares more than doubled Wednesday after it announced initial results from a study of an experimental cancer treatment that would be the first of its kind if approved by regulators.

In a key study, the intismeran vaccine was administered in combination with Merck's immunotherapy drug, Keytruda. Researchers compared this combination therapy against Keytruda used alone in melanoma patients. The companies reported that patients receiving the combined treatment experienced a longer duration without their cancer returning or metastasizing.

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The companies said patients who received the combination lived longer without cancer returning or metastasizing than patients who got Keytruda alone.

While the companies did not disclose specific survival data, such as overall survival rates or the exact length of time cancer remained at bay, they plan to present the full study results at an upcoming international medical meeting. The positive news sent Moderna's stock price soaring to $140.12 per share, while Merck's shares also saw an increase.

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The companies did not say how long patients survived without cancer returning or whether patients lived longer overall.