Switch to seedless. Get 30% off with SWITCH30 till Oct 26Moderna falls despite strong melanoma vaccine data
4 Markets Moderna fell 26% after positive melanoma vaccine results with Merck, showing a 42% risk reduction, but failed to meet market expectations.
Moderna shares plunged by as much as 26% after early phase 3 trial results for its personalized mRNA melanoma vaccine, developed with Merck, were leaked. Despite the data showing a 42% reduction in the risk of recurrence or death and a 38% reduction in distant metastasis compared to Keytruda alone, investor sentiment turned negative due to high expectations and a classic 'sell the news' reaction. The INTerpath-001 study involved 1,137 participants and a median follow-up of 24.6 months. Results revealed a two-year recurrence-free survival rate of 82.2% for the combination therapy, compared to 70% for the control group. Merck also saw a modest decline in its share price. Despite the strong clinical outcomes, both companies intend to proceed with regulatory discussions based on the promising data.
