MRNA cancer drug shows success in curbing melanoma

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Moderna (MRNA) shares surged 177% after its mRNA cancer vaccine met Phase 3 trial goals with Merck's Keytruda, then fell 20% the next day. The vaccine showed a 49% reduction in recurrence or death in melanoma patients. Moderna has ongoing studies across multiple cancer types. Investors are reassessing the impact of the vaccine on the business.

Moderna's stock surged 177% after reporting positive results from a melanoma cancer vaccine trial with Merck. The vaccine showed potential to reduce melanoma recurrence, affecting 112,000 U.S. cases annually. The success marks the first late-stage study for mRNA-based cancer therapy.

Moderna and Merck reported that their experimental mRNA cancer vaccine, combined with Merck's Keytruda, successfully reduced melanoma recurrence in a large trial. The study involved 1,137 patients. Moderna's stock rose 177%. Details will be presented to regulators and at a medical meeting. According to the Wall Street Journal, this is the first successful late-stage trial for a personalized mRNA cancer therapy.

Moderna co-founder Robert Langer's net worth doubled to $1.7 billion following positive Phase 3 trial results for a cancer vaccine developed with Merck, boosting Moderna's stock over 100%. Langer's stake, valued at 3%, surged from $730 million to over $1 billion. This marks his second time as a billionaire, after Moderna's COVID-19 vaccine success in 2020. Langer advises prioritizing meaningful work over financial gains.

Merck (MRK) shares fell 1.38% after a 12.6% gain, reaching $150.10. The company and Moderna reported positive Phase 3 trial results for a cancer vaccine combined with Keytruda, meeting primary and secondary endpoints. Keytruda sales were $8.4B in Q2, up 4% YoY. Merck's R&D spending led to a $5.6B net loss in H1 2026, but operating cash flow doubled to $9.3B. Analysts note the stock is 8% above average targets.