Moderna and Merck Cancer Vaccine Meets Melanoma Trial Goals

Moderna Inc. and Merck & Co. announced Wednesday that their experimental personalized cancer vaccine met its primary and secondary goals in a melanoma trial. The treatment utilizes genetic sequencing and mRNA technology to target mutations unique to a patient's tumor and is administered in conjunction with Merck's Keytruda immunotherapy.

The trial demonstrated that the vaccine can prevent melanoma from returning and stop the cancer from spreading. While the companies have not yet disclosed specific efficacy rates or production costs, they intend to present detailed results at a medical conference later this year. The partners are targeting U.S. approval for the treatment in 2027.

Following the announcement, Moderna's market value increased by approximately $44 billion as its shares nearly tripled. The cancer program is a central component of Moderna's strategy to diversify its business operations as sales for its Covid-19 vaccines decline.