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Merck said it has posted positive Phase 3 results for its neoantigen therapy combined with its immunotherapy for resected stage IIB-IV melanoma, developed in partnership with Moderna. Shares edge lower on the day, trading at $148.84.
Merck announced positive Phase 3 data for its investigational individualized neoantigen therapy in combination with its immunotherapy. The results pertain to patients with completely resected stage IIB-IV melanoma. The development of the therapy is being carried out in collaboration with Moderna.
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The session opened with a gap down from the previous close at $149.88 to $147.11 as price action runs counter to the broader bullish daily structure. Shares of Merck remain above their MA-20, MA-50, and MA-200, maintaining overall bullish alignment despite a muted move against the prevailing trend. The nearest resistance is the weekly high at $149.98. Stoch RSI is in overbought territory, which limits the immediate potential for further upside.
A close above $149.98 would indicate buyers are willing to follow through on recent events. Merck stock opened sharply lower at $147.11 from the prior close of $149.88, partially retracing the gap during the session. The past week has seen a contained move within a narrow range, yet from here, traders face more than 80% probability of upside and less than 20% downside over the coming trading week, with an expected range of $145.95 to $151.72. A drop below $146.2 would show the move is being faded. On the weekly chart the longer-term picture stays firmly constructive.
Earlier, analysts noted that Merck’s bullish technical outlook was supported by pivotal clinical results in diabetic macular edema. The current update adds momentum with positive Phase 3 data in melanoma, and traders should now monitor whether shares can sustain levels above the weekly high at $149.98 to validate continued upside.