Moderna Stock Surges After Melanoma Vaccine Trial Success

Moderna stock surged as much as 160% to $163.47 on Wednesday after the company reported successful late-stage trial results for a melanoma drug developed in partnership with Merck. The move signals that investors see the trial update as a major step in Moderna’s search for its next major growth driver after its COVID-era success.

The treatment is designed to reduce the recurrence of melanoma and is given alongside Keytruda, Merck’s immunotherapy drug. Moderna CEO Stéphane Bancel called the Phase 3 findings “a pivotal moment for the field of cancer research,” saying the company is helping turn individualized mRNA cancer treatment from an aspiration into reality.

Business Insider reported that Moderna has been looking for a “second act” as a major drug developer after making its name as a vaccine-maker during the COVID era. Even after Wednesday’s triple-digit rally, shares remain roughly two-thirds below their August 2021 peak of $484, underscoring how far the stock had fallen from its pandemic-era highs.

The melanoma trial news pushed Moderna’s year-to-date gain to 445%, according to the report. For investors, the central question now is whether the late-stage success can translate into a durable post-COVID growth story built around mRNA-based cancer treatment.