Moderna shares plunge after cancer vaccine data leaks — despite positive results
Moderna's stock dropped as much as 25% on Thursday after partial data on its closely watched cancer vaccine, developed with Merck, leaked before the official release. Merck shares also fell.
The full data, released later Thursday, appeared positive relative to Wall Street expectations. The personalized vaccine, intismeran autogene, combined with Merck's immunotherapy Keytruda reduced the risk of recurrence or death in certain melanoma patients by 42% compared with Keytruda alone, and cut the risk of distant spread or death by 38%.
About 82% of patients on the combination were alive without their melanoma returning two years after the shot, versus 70% on Keytruda alone. Trial investigator Dr. Hussein Tawbi of MD Anderson called it "a huge development for our patients."
Key points
- Moderna fell as much as 25%
- 42% lower risk of recurrence or death vs. Keytruda alone
Summary written by Readthrough from the original article. The full story, with photos and any updates, is at CNBC.
