
FT.COM
MODERNA SHARES
Moderna shares nearly triple on skin cancer vaccine success
SUMMARY
Moderna's shares soared by 177% after promising trial results for a new skin cancer therapy developed with Merck. This custom-made vaccine is designed for each patient's specific tumour, marking a significant advance in melanoma treatment. “Today’s results represent a landmark moment for adjuvant melanoma treatment,” stated Professor Georgina Long.
The trial results added $44 billion to Moderna's market cap, raising it to $69.6 billion. This mRNA vaccine targets patients with diagnosed melanoma, aiming to help their immune systems fight cancer. Analysts predict regulatory approval next year. Merck's stock also rose by 12.6%, and BioNTech shares climbed 21.6%.
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