Moderna Drops 25% Despite Strong Melanoma Vaccine Data — SkimNews
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- Moderna shares fell as much as 25% Thursday after partial trial data leaked, while Merck shares dropped about 1%.
- Intismeran autogene, paired with Merck’s Keytruda, reduced the risk of recurrence or death by 42% versus Keytruda alone in certain melanoma patients.
- Intismeran autogene plus Keytruda reduced the risk of distant spread or death by 38%; 82% of treated patients remained alive without melanoma returning at two years, compared with 70% receiving Keytruda alone.
- BMO Capital Markets analyst Evan Seigerman called the 42% relative reduction clinically meaningful; UBS described the data as an overall strong set and attributed the reaction to massive expectations.
- Moderna shares had climbed more than 530% year to date through Thursday afternoon, while Merck had gained nearly 41%.
- Merck CEO Robert Davis said the personalized shot’s complicated manufacturing process can take six weeks and that the company believes it can shorten that timeline.
Why it matters: Moderna entered the release up more than 530% this year, so a 25% reversal after the leak contrasts sharply with BMO and UBS’s assessment that the phase 3 data were clinically meaningful and strong. Merck also described a six-week manufacturing cycle and said it can be shortened, adding an operational constraint behind an already high-profile treatment.
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