What Happened?
Shares of biotechnology company Moderna (NASDAQ: MRNA) jumped 5.1% in the afternoon session after the stock's positive momentum was extended as the company, along with partner Merck, presented positive long-term data for its personalized mRNA-based cancer vaccine.
The new five-year results, presented at the American Society of Clinical Oncology's annual meeting, showed significant benefits for patients with high-risk melanoma, a serious form of skin cancer.
Findings from the phase 2b trial revealed that patients receiving the vaccine combined with Merck's Keytruda had a 49% lower risk of cancer recurrence or death compared to those treated with Keytruda alone. The data also showed the treatment reduced the risk of cancer spreading to distant parts of the body by 59%. This news reinforced confidence in the company's mRNA platform beyond its well-known COVID-19 vaccine.
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What Is The Market Telling Us
Moderna’s shares are extremely volatile and have had 43 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 27 days ago when the stock gained 10.2% on the news that the company published positive Phase 3 clinical trial results for its seasonal flu vaccine candidate, mRNA-1010, and announced positive Phase 1 data for its hantavirus vaccine.
The Phase 3 results for the flu vaccine, published in the New England Journal of Medicine, showed it was superior to standard-dose flu shots in adults 50 and older, with a relative vaccine efficacy of 26.6%. This validation of Moderna's mRNA technology beyond COVID-19 has bolstered investor confidence, especially with a decision from the U.S. Food and Drug Administration expected by August 5.
Adding to the positive sentiment, the company's hantavirus vaccine candidate was well-tolerated and produced strong immune responses in a Phase 1 trial. Following the news, several analysts raised their price targets on the stock.
Moderna is up 67.4% since the beginning of the year, but at $51.66 per share, it is still trading 10.6% below its 52-week high of $57.80 from March 2026. Despite the year-to-date gain, investors who bought $1,000 worth of Moderna’s shares 5 years ago would now be looking at only $250.71.
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