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/ Moderna

Shares of Moderna and Merck surged after the personalized ribonucleic acid cancer vaccine jointly developed by the two companies yielded positive early results in a phase 3 clinical trial for melanoma.

On the U.S. stock market on August 19 (local time), Moderna shares skyrocketed about 177 percent, while Merck shares rose more than 12 percent. This is interpreted as reflecting market expectations driven by growing prospects for commercializing the personalized cancer vaccine.

CNBC reported that the phase 3 trial was conducted on about 1,100 patients with advanced melanoma who had visible tumors completely removed through surgery but remained at high risk of recurrence.

According to Moderna and Merck, the combination therapy of the personalized cancer vaccine candidate and Merck's immunotherapy Keytruda significantly extended recurrence-free survival compared to Keytruda monotherapy. It also reduced the risk of the cancer metastasizing to other parts of the body.

The results are drawing attention because the personalized cancer vaccine demonstrated efficacy even in late-stage clinical trials. The vaccine, jointly developed by Moderna and Merck, is designed on a customized basis by analyzing the genetic mutations of each patient's tumor.

The mechanism induces the immune system to recognize specific mutations in cancer cells and attack them, with Keytruda administered alongside to amplify the immune response.

In an interview with CNBC, Moderna Chief Executive Officer Stéphane Bancel described the result as "a huge moment for medicine and for patients."

Merck explained that the therapy showed a clinically meaningful improvement over Keytruda monotherapy—the current standard treatment for melanoma—and was well tolerated by patients.

However, the phase 3 trial is still ongoing. Analyses of additional endpoints, including improvements in overall survival, remain, and both companies plan to present detailed clinical data at an upcoming international academic conference.

Consultations with regulatory authorities, including the U.S. Food and Drug Administration (FDA), are also expected to follow. Merck anticipated that discussions with regulatory agencies regarding the treatment's safety would begin within the coming months. The timing for filing for approval in the U.S. has not yet been determined.

Beyond melanoma, Moderna and Merck are conducting clinical trials to evaluate the efficacy of the personalized cancer vaccine in non-small cell lung cancer, bladder cancer, and renal cell carcinoma.

                                                                                                             Jeong A-reum