Moderna soars 24% after the drug maker posts upbeat results from cancer vaccine trial
Nancy Lane/MediaNews Group/Boston Herald
- Moderna stock jumped more than 24% Tuesday on upbeat results from a cancer treatment trial.
- The company reported its cancer vaccine combined with Keytruda reduced patients' risk by about 44%.
- Shares of Moderna are trading around $207, and remain down about 13.5% year-to-date.
Shares of Moderna jumped more than 24% on Tuesday after the company announced promising results from a cancer treatment trial in combination with Keytruda.
The stock was trading at $204.66 at 11:50 a.m. ET.
The company said results from a 150-week volunteer study revealed that using Moderna's personalized cancer vaccine alongside Merck's Keytruda reduced risk for patients by roughly 44%, compared to just using Keytruda alone.
The two companies plan to run a larger study next year for further research, and also said they plan to test the combined therapies against other forms of cancer.
Moderna became a household name at the start of the pandemic with the rollout of its COVID-19 vaccines, alongside shots from Pfizer and BioNTech. Moderna CEO, Stéphane Bancel, said the results from the cancer treatment study are very significant, and shows promise for what's to come.
"We want to go aggressively in many different cancer at the same time," he told CNBC on Tuesday. "It's a big deal for patients."
Despite the rally, shares of Moderna are still down nearly 20% for the year.
from Business Insider https://ift.tt/a3qPrVH
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