Moderna Surges 7% Ahead of Phase 3 Melanoma Vaccine Readout as Healthcare Sector Hits Record Highs

Healthcare stocks led Wall Street higher on Tuesday, October 20, with the sector hitting record highs and Eli Lilly touching a new all-time high. Moderna shares jumped 7% to $241, drawing heavy buying as investors positioned ahead of a closely anticipated Phase 3 melanoma vaccine data presentation. Bristol Myers Squibb climbed 5% and Pfizer edged higher on the broader sector momentum.

The catalyst for Moderna's move is the upcoming full readout of its Phase 3 INTerpath-001 trial, which is testing intismeran autogene, an mRNA-based individualized neoantigen therapy, in combination with Merck's pembrolizumab for adjuvant treatment of resected stage IIB-IV melanoma. The data are scheduled to be presented at a Presidential Symposium at the ESMO Congress 2026, with Moderna also hosting an investor webcast on October 24.

The healthcare rally provided a tailwind for the broader market even as oil prices fell. General Motors was a notable laggard, dropping nearly 8%, reflecting diverging fortunes across sectors on the day.