Moderna Stock Falls on Reported Cancer Vaccine Data Leak
An experimental Moderna-Merck vaccine plus Keytruda cut the risk of melanoma recurrence or death by 42% in a late-stage trial. The data leaked online Thursday, two days ahead of schedule.
- 1,137 patients with high-risk, surgically removed melanoma enrolled in the trial.
- 82% on the combination stayed cancer-free at two years, versus 70% on Keytruda.
- 38% lower risk of cancer spreading to distant parts of the body.
- 24% drop left Moderna stock at $187 after the leak.
Why it matters: The vaccine, intismeran autogene, targets mutations unique to each patient's tumor. It uses the mRNA technology behind Covid-19 vaccines.
- $6 billion or more in yearly melanoma sales forecast by analysts, split with Merck.
- Benefit held across disease stages: 43% risk cut in advanced, 40% in earlier.
How 11 sources split on this story
Where they split: Coverage divides over whether the story is a medical advance or a stock sell-off driven by Moderna's valuation.
Center coverage, 8 sources: The center frames the story around the data leak and Moderna's steep stock drop despite positive results.
Left coverage, 3 sources: The left frames the results as a medical milestone that could open a new era of personalized cancer treatment.
What’s next: The data are set for presentation Saturday at the ESMO meeting in Madrid. ESMO lifted its embargo after the leak.
- Moderna CEO Stephane Bancel said the companies expect to file for U.S. approval and launch in 2027.
- Merck CEO Robert Davis said making each vaccine takes six weeks, a timeline he expects to shorten.
- Will longer follow-up show the vaccine improves overall survival, as lead investigator Georgina Long said remains unproven?
- Why was the distant-spread benefit smaller than the 59% seen in the earlier trial?
- Can the approach work in kidney, lung, or bladder cancer?
