MRK: Positive Phase 3 results for sac-TMT and intismeran underpin a broad oncology pipeline

Merck's (MRK) sacituzumab tirumotecan reduced death risk by 32% in endometrial cancer patients in a Phase 3 trial, compared to chemotherapy. The TroFuse-005 trial included patients who had prior treatments.

Moderna (MRNA) shares fell 8% despite Phase 3 data showing its melanoma vaccine, developed with Merck (MRK), reduced recurrence or death risk by 42%. The lead investigator called the results transformational, but the stock had already dropped 19% earlier in the week. Moderna trades at 39x forward sales, above its 5-year average of 7.7x. Analysts expect $3.3B in 2028 revenue. Further data is awaited from both companies.

Moderna (MRNA) shares fell 20% after leaked trial data for its melanoma vaccine, despite analysts calling results 'strong.' The drop may signal the end of its 700% year-to-date rally. Merck (MRK), partnering on the vaccine, saw minimal impact. Analysts expect Merck to report strong earnings. BioNTech (BNTX) and Illumina (ILMN) are also mentioned.

Merck reported that intismeran plus KEYTRUDA reduced recurrence or death risk by 42% and distant metastasis or death risk by 38% in stage IIB-IV melanoma patients compared to KEYTRUDA alone. Two-year recurrence-free survival was 82.2% versus 70.0%.

Sacituzumab tirumotecan (sac-TMT) showed improved progression-free and overall survival in a phase 3 trial for advanced endometrial cancer. The FDA has accepted a priority review for its approval. The drug reduced death risk by 32% and disease progression risk by 41% compared to standard treatments. According to Merck, the median PFS was 7.2 months for sac-TMT vs 3.9 months for standard treatments, and median OS was 19.0 months vs 12.1 months.

Amgen and AstraZeneca reported a 58% reduction in death risk for a lung cancer treatment in trials. Merck and Moderna's cancer vaccine showed a 42% lower recurrence rate. Halloween candy sales fell 6.7% YoY. Dow dropped 600+ points as oil prices rose. Trump announced a $275M nursing initiative. Six Flags to add seatbelts after a fatality.