Moderna shares plunge 25% after leak of cancer vaccine trial data

Moderna stock fell as much as 25% after partial clinical trial data for its personalized cancer vaccine intismeran autogene, developed with Merck, leaked. The vaccine plus Keytruda cut the risk of recurrence or death in melanoma patients by 42% and the risk of distant spread or death by 38% versus Keytruda alone.

• 82% of vaccinated patients were alive without melanoma recurrence at two years versus 70% on Keytruda alone
• Recurrence or death risk fell 42%; risk of distant spread or death fell 38%
• BMO and UBS analysts attribute the selloff to inflated expectations, not weak data