Moderna Reaches New High Ahead of Upcoming Pipeline Updates
Moderna Inc. (NASDAQ:MRNA) reached a new three-year high on Monday, driven by investor anticipation ahead of two major health conferences scheduled for the week. The stock surged to $176.86 during intraday trading before settling near $174 as investors awaited updates from clinical trials. Moderna is set to present data from its Phase 3 INTerparth-001 trial at the Bernstein Healthcare Forum on September 23 and later at ESMO Congress in October. The trial, which combines intismeran autogene with Merck's Keytruda for melanoma treatment, achieved key endpoints including recurrence-free survival (RFS) and distant metastasis-free survival (DMFS). This marks a significant milestone as the first positive Phase 3 outcome from an individualized neoantigen therapy combined with mRNA-based cancer treatment. The strong results have bolstered investor confidence in Moderna's long-term growth potential, particularly given melanoma’s large addressable market. Institutional holdings also increased by 10% to $1.5 billion during Q2 despite some hedge funds reducing their positions.
Topics: intismeran autogene Keytruda melanoma treatment Moderna Phase 3 trial results