Moderna Stock Slides Another 8% as CEO Bancel Touts Cancer Vaccine Potential Beyond Melanoma

Moderna shares fell an additional 8% on October 26, extending a steep selloff that began days earlier when leaked data from the Phase 3 INTerpath-001 trial of its personalized mRNA cancer vaccine, intismeran autogene, disappointed investors despite showing clinically meaningful results. The trial, conducted jointly with Merck, demonstrated that intismeran paired with Merck's immunotherapy Keytruda reduced the risk of melanoma recurrence or death by 42% compared with Keytruda alone, a result the lead investigator called "transformational." The data leak on October 22 had already erased more than $17 billion in Moderna's market value, with shares falling as much as 26% intraday before closing down more than 17% that session.

Speaking on Bloomberg Television on October 26, CEO Stephane Bancel expressed confidence that the personalized mRNA platform will prove effective across a broad range of tumor types beyond melanoma, citing the positive Phase 3 biology as a foundation for expansion into other cancer indications. Bancel also stated that neither Moderna nor Merck was the source of the data leak. A Phase 3 monotherapy study in high-risk Stage 1 non-small cell lung cancer patients is already underway as the company pursues broader oncology applications.

A separate Investing.com report noted that Bristol Myers Squibb's own cancer pipeline developments could carry implications beyond that company alone, adding wider competitive context to the personalized cancer vaccine space as multiple players advance next-generation immuno-oncology programs.