Moderna Shares Surge 650% on Cancer Vaccine Data

Moderna shares surged more than 650% year-to-date, climbing from $29.49 at the end of 2025 to $223.60 in premarket trading on October 15, 2026. The rally follows investor enthusiasm for intismeran, a personalized cancer vaccine developed in partnership with Merck.

Phase 2b and late-stage trial data presented at ASCO 2026 indicated that combining intismeran with Keytruda resulted in a 49% reduction in the risk of cancer return or death. Despite this clinical progress, the stock price has far exceeded the consensus analyst price target of $122.67.

The company continues to struggle financially, reporting a $782 million loss in the second quarter against $145 million in revenue. Investors are now looking toward the release of third-quarter results on November 6 to clarify revenue targets and the regulatory timeline for the vaccine.