Moderna Stock Falls 8% as Melanoma Vaccine Selloff Reaches 25%

Moderna (NASDAQ: MRNA) shares fell 8% to $184.19 in Monday’s early trading, extending the stock’s decline to about 25% since the October 21 close after the release of detailed Phase 3 results for its experimental melanoma vaccine developed with Merck (NYSE: MRK). The October 26 decline extended a two-session selloff that began when embargoed INTerpath-001 findings leaked online on October 22 . Merck and Moderna officially disclosed the results later that day, ahead of the trial’s October 24 presentation at the European Society for Medical Oncology Congress in Madrid. The trial enrolled 1,137 patients with high-risk stage IIB–IV melanoma that had been completely removed by surgery.

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