Quick Read – Moderna (MRNA) surged 177% and Merck (MRK) rose 12.5% after their mRNA cancer vaccine met key Phase 3 melanoma trial goals. – Phase 2b data showed a 49% reduction in recurrence or death versus Keytruda alone, with nine studies now underway across multiple cancer…
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Moderna (NASDAQ:MRNA) shares have crashed 20% as of 12:00 PM ET on Thursday after delivering one of the biotech sector’s most extraordinary single-day moves of 2026. CNBC co-anchor Andrew Ross Sorkin told viewers that Moderna’s Phase 3 results for its experimental cancer vaccine sent the stock soaring 177% on Wednesday, while partner Merck (NYSE:MRK) rallied 12.5%. As Sorkin summarized on air, “The mRNA based shot, in combination with Merck’s immunotherapy called Keytruda, met key goals in a trial of patients with higher risk or advanced melanoma whose detectable cancer had been removed.” Moderna Crashed 20% After Exploding 177% The scale of Wednesday’s 177% move for Moderna reflects the commercial optionality investors assign to a working mRNA cancer vaccine platform.
Moderna entered the news cycle carrying serious pipeline overhangs, including a $950 million litigation settlement paid in July 2026 and a norovirus program that did not meet statistical criteria for early success at a Phase 3 interim analysis. However, a validated oncology franchise changes that story. Now, the stock is down 20% on Thursday, as it appears investors are taking profits and reconsidering how impactful this potential cancer vaccine would be for the business.