- Moderna shares rose as much as 10.04% to $154.43 after late-August Phase 3 data showed its personalized cancer vaccine, developed with Merck, reduced melanoma recurrence and metastasis risk when paired with immunotherapy.
- Moderna closed an upsized $2.6 billion convertible-notes offering to fund development across its oncology and infectious-disease pipeline.
- An analyst upgrade to Buy with a $180 price target supported the rally, but the broader analyst consensus remained Hold and below the market price, highlighting valuation and execution concerns.
- Moderna's updated COVID-19 vaccine approvals and broader pipeline news added support, while GSK's advancing mRNA flu program represented a competitive risk.
Quotes
“The results mark a significant inflection point for Moderna's mRNA platform beyond infectious disease”