[REVISION HISTORY]

Moderna and Merck melanoma vaccine clinical trials

Updated 28 times since CLSTR started tracking revisions of this situation.

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2026-10-07 07:28 UTC → 2026-10-09 19:52 UTC · added ~~removed~~

Moderna and Merck (MSD) have reported positive Phase 3 clinical trial results for intismeran autogene (V940), an experimental personalized mRNA cancer vaccine. The INTerpath-001 trial, which administered the vaccine alongside Merck’s Keytruda, met its primary endpoint of recurrence-free survival, reducing the risk of recurrence or death by 49% compared to Keytruda monotherapy. Moderna President Stephen Hoge stated the study demonstrated a “statistically significant and clinically meaningful benefit over Merck’s KEYTRUDA.” Following these results, Moderna shares experienced significant volatility. While clinical success initially triggered a 177% surge, the stock later rose 12.27% to close at $172.94 on September 21, 2026, after three abstracts regarding the data were accepted for the 2026 ESMO Congress. However, Moderna faces headwinds. Citigroup downgraded the stock from ‘Neutral’ to ‘Sell’, with analyst Geoff Meacham suggesting the current valuation is overly optimistic. Meacham noted that a share price near $200 would require approximately $26 billion in annual oncology sales, nearly seven times higher than Citigroup’s forecasts. Despite the downgrade, Citigroup raised its price target from $60 to $80. Additionally, a federal court in Delaware denied Moderna's request to dismiss a patent lawsuit involving mRNA technology. In a separate ~~development regarding its market position,~~ development, Moderna is set to join the Nasdaq-100 index on October 9, replacing Warner Bros. Discovery. ~~This inclusion follows a significant recovery in share price, with~~ As the ~~company’s market valuation rising to between $75 billion and $82 billion. The move~~ company prepares for potential commercialization of V940, it is ~~expected to increase demand from exchange-traded funds (ETFs)~~ deepening collaborations with Merck and ~~other index-tracking investment products.~~ Tempus. Under an expanded agreement, Tempus will manage tumor tissue and blood sample collection and provide sequencing services, marking a transition from clinical trials toward industrial implementation. Investor confidence has also been bolstered by reports of a planned national public-private partnership, potentially involving the National Institutes of Health, aimed at accelerating cancer vaccine development starting in December.

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