Moderna’s Stock Boosted by Data From Trial of Melanoma Treatment

Moderna Inc.’s stock soared 14% early Thursday to early Friday after the biotech company and partner Merck & Co. announced positive data from a trial of Moderna’s mRNA-4157 in combination with Merck’s blockbuster cancer drug Keytruda in patients with resected high-risk melanoma (stage III/IV).

The companies said that after about three years, the combination reduced the risk of recurrence or death by 49% in a Phase 2 trial and the risk of distant metastasis or death by 62%, as compared with Keytruda alone.

“As we continue to follow participants in the Keynote-942/mRNA-4157-P201 study, we are excited to see such a robust clinical benefit with mRNA-4157 (V940) as adjuvant treatment in combination with Keytruda in people with resected high-risk melanoma,” said Kyle Holen, senior vice president and head of development in therapeutics and oncology at Moderna.
“These data add another positive analysis to the multiple endpoints and subgroups previously assessed in this study,” he said.

Technical Analysis
MRNA reached its 1 Month High on the 14th December, 2023 siting the stocks responds to the Positive Data from the Trial of Melanoma Treatment.
Moderna’s stock has fallen 50% to date in 2023, while the S&P 500 has gained 22.6%.

Although MRNA is trading near the bottom of its 52-week range and below its 200-day simple moving average, the stock is likewise showing signs of a continual trend which is poise to set foot on a new Resistance level.