Phase 3 Leak Hits Moderna: Did Expectations Outrun the Science?
Moderna fell 17.57% after Phase 3 results for its personalized cancer vaccine with Merck leaked early. In over 1,100 melanoma patients, intismeran plus Keytruda cut recurrence-or-death risk 42% and distant-metastasis-or-death risk 38%, with no new safety signals. Bulls see mRNA-platform validation; bears say expectations were higher and other cancers remain untested. What evidence would show the platform works beyond a single indication?
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