A cancer vaccine seems to be closer than ever

Moderna and Merck reported positive Phase 3 trial results for their melanoma vaccine, intismeran autogene, combined with Keytruda. The companies did not disclose efficacy figures, but the announcement led to a $45 billion market value increase for Moderna. Analysts are divided, with some praising the results and others cautioning about high expectations and manufacturing challenges. The vaccine is not yet approved, and detailed data will be presented at a future medical meeting.

Merck (MRK) shares rose 12.6% after a Phase 3 trial showed intismeran, developed with Moderna, improved outcomes in melanoma when combined with Keytruda. The trial involved 1,137 patients and found statistically significant improvements in recurrence-free and distant-metastasis-free survival. Keytruda generated $31.68B in 2025, nearly half of Merck's sales. The success could extend Keytruda's growth and support its relevance post-patent expiration in 2028, but challenges remain in approval, pric

MRK and MRNA's intismeran autogene showed positive Phase 3 results in melanoma, beating Keytruda alone on recurrence-free survival. BNTX rose 21.6%, ILMN 15.6%, PACB 5.8%, RGEN and DHR also mentioned. Analysts project varying revenue forecasts for the therapy. Keytruda's U.S. patent cliff is in 2028, with 2025 sales at $31.641B.

Moderna (MRNA) shares rose 2.9% in pre-market trading, rebounding after recent declines following positive Phase 3 results for its cancer vaccine, intismeran autogene. Barclays raised its price target to $125, citing the trial's success. Analysts estimate potential peak sales of $9.2B across multiple indications. The stock has gained 392% year-to-date but remains volatile. Merck, Moderna's partner, has also benefited from the optimism.

Moderna (MRNA) stock rose 2.9% in pre-market trading after a multi-session pullback. The rally follows successful Phase 3 trial results for its mRNA cancer vaccine, intismeran, in partnership with Merck. Barclays raised its price target to $125, while Wolfe Research estimated peak sales of $9.2B across four indications. The broader market's risk-on tone also supported the rebound.

Merck and Moderna announced their mRNA melanoma vaccine met Phase 3 goals, causing Merck's stock to rise 12.5% in one day, adding $43B in market value. The vaccine, combined with Keytruda, showed reduced cancer recurrence risk. Keytruda generated $8.4B in Q2 2026 sales. Analysts have mixed views on Merck's future, with targets ranging from $160 to $179. Merck's stock is up 47% YTD, reaching a 52-week high of $154.49.