Moderna Shares Surge to 52-Week High on Melanoma Vaccine Breakthrough
Moderna's stock soared 16% to $50, marking its highest point in a year following promising clinical trial results. The biotech firm's experimental melanoma vaccine, developed with Merck's Keytruda, demonstrated a 49% reduction in cancer recurrence or death in post-surgery patients.
The five-year data signals Moderna's successful pivot beyond COVID vaccines into oncology therapeutics. While Wall Street maintains cautious price targets, the market response reflects Optimism about the company's pipeline expansion into lung, kidney and bladder cancer treatments.
This development comes as Moderna transitions from a pandemic-focused business to a diversified biotech with multiple revenue streams, including respiratory vaccines and now cancer immunotherapies.
