Moderna and Merck's Cancer Vaccine Trial Successfully Meets Milestone for Melanoma Therapy
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Moderna and Merck said Wednesday their personalized mRNA cancer vaccine met its main goals in a Phase 3 trial targeting melanoma, marking the first time a therapy of its kind has succeeded at that stage of testing. The news sent Moderna’s stock up more than 100% and lifted Merck shares as well, as investors bet on a new era for a company long defined by its Covid-19 vaccine.
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ZeroHedgeModerna's shares soared as much as 83% in premarket trading in New York after its personalized cancer vaccine, developed in collaboration with Merck & Co., reduced the risk of melanoma returning in a large, late-stage trial. The result marks the first positive Phase 3 trial for a personalized cancer vaccine by any company.
MarketWatchModerna and Merck’s first-of-its-kind cancer vaccine helped people with melanoma live longer in a late-stage trial, and shares of both companies are soaring.
Financial TimesModerna share price doubles on melanoma vaccine trial success Company’s melanoma cancer vaccine being developed with Merck
BloombergModerna, Merck Revive mRNA Hopes With Melanoma Success A personalized vaccine developed by Moderna and Merck reduced the recurrence of melanoma in a large, late-stage trial, raising expectations for treating the deadliest form of skin cancer and showing the promise of the embattled mRNA technology. Madison Muller explains (Source: Bloomberg)
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The study met its primary endpoint by showing that the cancer vaccine, called intismeran autogene, combined with Merck's blockbuster immunotherapy Keytruda, improved recurrence-free survival compared with Keytruda alone. The study also met a secondary endpoint by reducing the risk of cancer spreading to other parts of the body.
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FortuneThe companies’ vaccine, called intismeran autogene, is built from a sample of a patient’s own tumor. It is designed to teach the immune system to recognize the specific mutations in that person’s cancer. In the trial, patients with high-risk melanoma, one of the deadliest forms of skin cancer, who had already had their tumors surgically removed received either the vaccine plus Merck’s immunotherapy Keytruda, or Keytruda alone.
MarketWatchThe vaccine, intismeran autogene, is an mRNA-based therapy that is paired with Merck’s Keytruda, one of the world’s top-selling cancer drugs. It’s the first Phase 3 data for the closely watched experimental cancer vaccine.
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In March, Fiddelke unveiled a $6 billion plan to reverse Target’s sales slump and to reclaim the retailer’s reputation as a place to go for affordable yet stylish apparel and home goods.
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CNBCOver the past year, Fiddelke has accelerated Target's turnaround by reducing prices on more than 10,000 frequently purchased items as price-conscious consumers seek value, while "continuing to invest in newness, convenience, and an elevated shopping experience," he said. While the current economic landscape of stubbornly elevated inflation is a major challenge for Target and other retailers, Fiddelke is bullish on the retailer's momentum continuing through the second half of the year. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
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“Today’s results represent a landmark moment for adjuvant melanoma treatment,” said Georgina Long, the trial’s principal investigator, medical director of Melanoma Institute Australia, and chair of melanoma medical oncology and translational research at the University of Sydney. “Intismeran in combination with pembrolizumab has the potential to establish a new treatment paradigm in the adjuvant melanoma setting, helping patients remain cancer-free for longer.”
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ZeroHedgeToday's results represent a landmark moment for adjuvant melanoma treatment.This is the first Phase 3 study to show that intismeran,a treatment designed based on the unique mutational 'fingerprint' of a patient's own tumor, given in combination with pembrolizumab, can reduce the risk of recurrence or death in patients with completely resected stage IIB-IV melanoma compared with KEYTRUDA alone.
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The market reaction Investors responded immediately to the news as Moderna’s stock more than doubled in early trading Wednesday, while Merck shares climbed as well. Merck is currently valued at roughly $371 billion and Moderna at around $62 billion.
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ZeroHedgeAs of 0700 ET, Moderna shares were up 60% and trading around $100 per share. Short interest represents 13.5% of the float, equivalent to 49.8 million shares. Merck shares are up 7% in premarket as well.
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Independent claims that didn't surface elsewhere in our corpus. Treat as supplementary — not corroborated across outlets.
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01 Bloomberg Moderna’s 160% Surge Burns Shorts in ‘Painful’ $5 Billion Loss A record surge in Moderna Inc.’s shares delivered a $5 billion blow to short sellers who had bet that the vaccine maker’s years-long slump would continue.
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02 MarketWatch AbbVie’s shares ABBV were up 2.6% on Wednesday, while Amgen AMGN gained 3.7% and Eli Lilly’s stock LLY rose 4.0%. Johnson & Johnson JNJ was up 1% and Merck MRK jumped 12.4%.
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03 CNBC Jim Cramer said Target is a buy on any pullback after the retailer's latest earnings showed its turnaround is gaining momentum. "Let it come in and buy," Jim said Wednesday on "Squawk on the Street," referring to Target shares, which have rallied more than 53% this year. "While the stock is up a great deal … we have a winner here." Shares of Target advanced by more than 5% on Wednesday at the open after the company delivered better-than-expected fiscal second quarter revenue and earnings. Wall Street cheered improving financial metrics across the board. The company's comparable sales increased 3.8%, a sharp reversal from the 1.9% decline in the year-ago period, marking Target's second consecutive quarter of positive store comps.
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04 ZeroHedge Moderna and Merck did not disclose exact figures showing how much the therapy improved recurrence-free survival. The trial remains ongoing. Additional details will be presented at an upcoming medical meeting, and the vaccine could receive approval as early as 2027, depending on the regulatory review.
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05 Fortune The companies haven’t released the exact numbers behind that improvement yet, saying only in press releases on Wednesday the results were “statistically significant and clinically meaningful.” They plan to share full data at an upcoming medical conference and bring the results to regulators.
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06 Financial Times Moderna’s cancer shot: exciting for investors, inconclusive for patients A glimmer of hope for sufferers, a potential revenue platform for a cash-burner, and a whole heap of unknowns
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07 Washington Times Business NEW YORK — Target reported its second straight quarter of comparable sales gains on Wednesday, saying that a merchandising overhaul under the retailer’s new CEO is attracting more customers and boosting sales throughout its stores.
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