Why Moderna Stock Surged Today
Shares of Moderna (MRNA +14.21%) jumped more than 14% on Friday, following reports of a major new cancer research initiative.
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A new counteroffensive against cancer
The National Institutes of Health (NIH) plans to begin a campaign to fast-track cancer treatment research in December, according to a report by The New York Times. The program hopes to replicate the success of efforts to develop Covid-19 vaccines during the early stages of the pandemic.
The public-private partnership would bring together researchers and other resources from a range of healthcare companies and nonprofits to accelerate scientific discoveries. Initial research is expected to focus on pancreatic, liver, and colorectal cancer, as well as pediatric tumors.
Today’s Change
(14.21%) $28.00
Current Price
$225.00
Key Data Points
Market Cap
Day’s Range
$197.17 – $225.00
52wk Range
$22.28 – $225.00
Volume
28.9M
Avg Vol
17.7M
Gross Margin
12.57%
Moderna is a leader in cancer vaccine research
The initiative comes at a time when advances in artificial intelligence (AI) and mRNA technology are making it possible for doctors to design treatments tailored to each patient’s immune system.
On Aug. 19, Moderna and Merck (MRK +2.26%) announced that their co-developed investigational mRNA-based therapy, intismeran, when administered in combination with Merck’s Keytruda, increased the time before cancer returned or spread in patients with high-risk melanoma.
These and other encouraging clinical trial results are prompting healthcare leaders to devote more resources to cancer research. That could help to accelerate Moderna’s development timelines, potentially enabling the biotech to deliver new therapies to patients — and profits to shareholders — faster than previously expected.
Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Merck and Moderna. The Motley Fool has a disclosure policy.
