Moderna shares slide after leaked cancer vaccine trial data
Moderna shares come under pressure after partial data on its closely watched cancer vaccine reaches the market before the full release. The later disclosure still appears to meet Wall Street expectations, even as the stock drops as much as 25% in Thursday trading.
Highlights
- Moderna shares dropped as much as 25% on Thursday after partial trial data of its cancer vaccine with Merck leaked.
- The intismeran autogene vaccine combined with Keytruda reduced risk of recurrence or death by 42% versus Keytruda alone in melanoma patients.
- Full trial data will be presented at the European Society for Medical Oncology conference this weekend, drawing attention from oncology and biotech investors.
Trial results and market reaction
As reported by CNBC, Moderna shares fell as much as 25% on Thursday after partial data leaked on the company's personalized cancer vaccine developed with Merck.The vaccine, known as intismeran autogene, is being tested in combination with Merck's immunotherapy Keytruda. Full data released later on Thursday appears positive based on Wall Street expectations ahead of the disclosure.
Melanoma treatment implications
According to the trial results, the combination of intismeran autogene and Keytruda reduces the risk of recurrence or death by 42% compared with Keytruda alone in certain melanoma patients.The late-stage findings are set to be presented at the European Society for Medical Oncology conference this weekend, putting the outcome in focus for oncology investors and the broader biotechnology sector.
In our earlier article on the AI-linked tech selloff, we explained how hotter-than-expected inflation data revived interest-rate hike expectations and pressured Nasdaq-linked stocks. We also noted that investors were reassessing the cost of financing large-scale AI infrastructure, which intensified declines across chipmakers, cloud and data-center names.
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