12/13/2022, 2:03 PM (Source: TeleTrader)
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Chart for: Merck & Co Inc


Chart for: Moderna

Moderna soars 8% premarket on cancer vaccine results

Moderna shares jumped more than 8% in Tuesday's premarket session on news that a study of Moderna and Merck's mRNA-based cancer vaccine showed promising results.

The two firms said the combination of Moderna's customized cancer vaccine and Merck's Keytruda immunotherapy decreased patients' risk of relapse or death by 44%, compared with Keytruda alone. "These positive findings represent an important milestone in our collaboration with Moderna," said Dr. Dean Y. Li, President of Merck Research Laboratories.

Shares of Moderna skyrocketed by 8.45% to sell for $179.08 at 8:02 am ET, while Merck's rose by 2:32% to sell for $111.50 a minute later.

Baha Breaking News (BBN) / JG