Moderna, Merck cancer vaccine shows promise in late-stage trial; Moderna stock more than doubles

An experimental personalized cancer vaccine from Merck and Moderna showed positive initial results in its first-ever late-stage trial, the companies announced Wednesday, bringing them one step closer to filing for approval of the treatment option.

The mRNA-based shot in combination with Merck’s immunotherapy Keytruda met key goals in the Phase 3 trial in more than 1,100 patients with higher-risk or advanced melanoma whose detectable cancer had been completely removed through surgery.
Merck shares climbed more than 10% in morning trading, while Moderna’s stock soared over 120%. The size of those moves reflect the companies’ relative size entering Wednesday: Merck’s market cap was around $333 billion, while Moderna’s sat near $25 billion.

The combination regimen met the main study goal of significantly extending the time patients lived without their melanoma returning, compared with Keytruda alone. The treatment also reduced the risk of the cancer spreading to distant parts of the body. Those results build on positive Phase 2 trial data on the same regimen earlier this year.

“It’s a big moment for medicine, a big moment for patients,” Moderna CEO Stephane Bancel said in an interview on CNBC’s “Squawk Box.”