On September 23, Moderna, Inc. rose 3.52% in regular trading, trading at $188.55/share, with turnover of $536 million, extending its recent rally to fresh highs.
The continued strength is driven by sustained momentum around the company's personalized mRNA cancer vaccine, intismeran autogene, co-developed with Merck. Moderna announced that three research abstracts on the vaccine have been accepted for presentation at the European Society for Medical Oncology annual meeting, with the most anticipated Phase 3 INTerpath-001 trial complete melanoma data set to be released on October 24. Two additional abstracts will disclose clinical data for pancreatic cancer and early-stage non-small cell lung cancer.
The Phase 3 trial previously reported positive results, meeting both recurrence-free survival and distant metastasis-free survival endpoints with no new safety concerns, marking the first mRNA cancer therapy validated in a randomized Phase 3 trial. The milestone has propelled the stock over 100% in the past month. Multiple institutions have recently raised price targets, with Argus Research upgrading to Buy with a $180 target, while UBS highlighted three near-term INT data readouts as further catalysts.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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