Moderna Stock Nearly Doubles After Phase 3 Cancer Vaccine Trial Hits Key Endpoints

Moderna shares surged as much as 99% in premarket trading on Wednesday, touching $125.68 from Tuesday's close of $62.96, after the company and Merck announced positive topline results from the Phase 3 INTerpath-001 trial of intismeran autogene, an mRNA-based individualized neoantigen therapy, combined with Merck's Keytruda immunotherapy in patients with completely resected Stage IIB-IV melanoma. The trial met both primary endpoints of recurrence-free survival and distant metastasis-free survival, marking the first Phase 3 success for the personalized cancer vaccine program. Intismeran autogene, also known as mRNA-4157 or V940, is designed specifically for each patient based on the unique mutations within their tumor.

The companies said they plan to present the data at an upcoming international medical meeting and will engage with regulators on filing submissions. The move puts Moderna on track for its highest stock price since 2024 and validates a technology platform that had faced mounting skepticism as the company's Covid vaccine revenues declined.