Vor Bio reports positive two-year IgA nephropathy trial data

Vor Bio completed enrollment in its Phase 3 UPSTREAM MG trial for telitacicept, a treatment for generalized myasthenia gravis, with results expected in early 2027. The company plans to start a Phase 3 trial for ocular myasthenia gravis in the same timeframe, expanding its telitacicept franchise. The trials follow positive results from RemeGen's Phase 3 trial in China.

Albany International Corp. (AIN) expanded its AEC unit's hypersonic, solid rocket motor, and space manufacturing capabilities via AEC-AP after a $36M investment and a $21.2M, 30-month IBAS contract. The facility in Rochester, NH will support carbon-carbon TPS and related hardware, aligning with defense composites demand.

RBC Capital reiterated a Sector Perform rating and $145 price target for Merck (MRK) after melanoma trial data showed a recurrence-free survival hazard ratio of 0.58. The stock is near its 52-week high, up 76% year-to-date. Analysts expect regulatory filings in the U.S. and Europe, with FDA approval anticipated in 2027. Merck is set to announce earnings on October 29, with mixed analyst expectations.

Vertiv (VRT) and Nvidia developed a method to reduce AI data center power and cooling setup time from 120 to 48 days. Vertiv estimates this could boost AI token output by 30% in the first year. VRT shares rose 4% to $212.51 on Oct. 21. The approach is being tested in a 41-megawatt Norway project. Vertiv's Q3 earnings report is scheduled for Oct. 28.

Moderna's stock fell 25% on Thursday despite positive leaked data showing its cancer vaccine, developed with Merck, reduced melanoma recurrence risk by over 40% when combined with Keytruda. The vaccine also reduced cancer spread risk by 38%. Moderna's stock has risen over 500% this year on vaccine expectations. The trial focused on personalized treatment for melanoma, with experts calling it a landmark in cancer research.

Moderna and Merck's cancer vaccine, intismeran autogene, combined with Keytruda, met its main goal in a late-stage trial, reducing the risk of disease recurrence or death by 42% compared to Keytruda alone. Despite this, shares of both companies fell, with Moderna down nearly 25% and Merck around 1%. Analysts defended the results, calling them compelling and practice-changing.