Moderna Personalized Cancer Vaccine Phase 3 Data Leaked Early, Stock Once Fell Over 26%

Odaily: Phase 3 data for the personalized melanoma vaccine jointly developed by Moderna and Merck has leaked ahead of schedule. Despite positive clinical results, Moderna's stock still suffered a sharp sell-off.

According to MSX.COM data, during intraday trading on Thursday, Moderna fell as low as $180.80, down about 26.45% from the previous close and about 28.95% from its October 21 stage high of $254.48. The stock later rebounded somewhat and eventually closed at $202.63, down 17.57%.

According to Reuters, relevant data show that the combination therapy from Moderna and Merck can reduce the risk of melanoma recurrence or death by 42% and the risk of distant metastasis or death by 38%. However, after Moderna's stock had at one point risen more than 500% cumulatively during the year, the market already had high expectations for the vaccine's efficacy and future commercialization prospects.

Institutions such as UBS believe this decline is closer to a typical "sell the news" move, as investors begin to reassess whether the current clinical results can support the previous valuation gains.