TradingKey – On October 22 US Eastern Time, Moderna (MRNA) and Merck released Phase III melanoma trial data for the personalized cancer vaccine Intismeran autogene. Following the release of the data, Moderna’s stock price tumbled, closing down 20.14% at $196.31 on the day, after hitting an intraday low of $195.23. Although the data showed that the primary efficacy endpoint met expectations, why did the stock price plunge?
The Phase III INTerpath-001 trial announced by Moderna and Merck enrolled more than 1,100 patients. Results showed that the personalized mRNA cancer vaccine Intismeran autogene combined with Keytruda reduced the risk of melanoma recurrence or death by 42% and the risk of distant metastasis or death by 38% compared with…
