Moderna shares plunge after leaked melanoma vaccine data shows 42% risk reduction
Moderna's stock fell about 17% after an early leak of Phase 3 results for its melanoma vaccine, which showed a 42% cut in cancer recurrence or death when used with Merck's Keytruda. The premature release erased roughly $18‑$20 billion of market value. Merck confirmed the data had been released ahead of schedule and saw its own share price dip before recovering. Full trial data are expected at a European cancer conference in Madrid on Saturday.
Why it matters
The sharp price drop reduces Moderna's market capitalization by up to $20 billion, affecting shareholders and potentially altering the valuation of its oncology pipeline. Merck's brief share decline and subsequent rebound indicate market sensitivity to the joint vaccine's perceived efficacy.
Key facts
- 1Moderna shares fell 17% after the leak. gurufocus.com
- 2The leak removed between $18 billion and $20 billion of market value. gurufocus.com
- 3The trial showed a 42% reduction in recurrence or death risk when combined with Merck's Keytruda. finance.yahoo.com
- 4Merck confirmed the data were released early. finance.yahoo.com
- 5Full trial results are scheduled for release on Saturday at a cancer conference in Madrid. finance.yahoo.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.