: Moderna’s stock rallies after announcement of positive data from trial of melanoma treatment combined with Merck’s Keytruda
Moderna Inc.’s stock MRNA soared 7% early Thursday, after the biotech company and partner Merck MRK announced positive data from a midstage trial of Moderna’s mRNA-4157 in combination with Merck’s blockbuster cancer drug Keytruda in patients with resected high-risk melanoma (stage III/IV). The companies said that after about three years the combination reduced the risk of recurrence or death by 49% and the risk of distant metastasis or death by 62%, compared with Keytruda alone. “These data add another positive analysis to the multiple endpoints and subgroups previously assessed in this study,” said Kyle Holen, senior vice president and head of development in therapeutics and oncology at Moderna. The companies have started Phase 3 trials of mRNA-4157 in combination with Keytruda. Moderna’s stock has fallen 56% to date in 2023, while the S&P 500 SPX has gained 22.6%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.