Shares of Moderna ($MRNA) soared as much as 212% in after-hours trading after the company announced positive Phase 3 results for the world’s first mRNA-based cancer therapy, marking a major milestone for personalized cancer treatment. The rally added more than $50 billion to Moderna’s market capitalization in a single session.
The therapy, developed in partnership with Merck, is a personalized mRNA treatment administered alongside Keytruda for patients with high-risk melanoma following surgery. The Phase 3 trial met its primary endpoint by significantly reducing the risk of cancer recurrence or spread compared with Keytruda alone.
The results represent the first successful Phase 3 trial for an mRNA cancer therapy, validating years of research into using messenger RNA to train a patient’s immune system to recognize and attack tumor-specific mutations. If approved, thousands of melanoma patients could gain access to the treatment as early as next year.
The breakthrough could also transform Moderna’s long-term business. After COVID-19 vaccine sales declined sharply, the company has focused on expanding its mRNA platform into oncology and other therapeutic areas. Analysts estimate the melanoma therapy alone could eventually generate around $3 billion in annual sales, while similar personalized mRNA treatments are already being studied in lung, breast, pancreatic, and other cancers.
The announcement lifted sentiment across the biotechnology sector, with shares of Merck and several other companies developing mRNA-based cancer treatments also moving higher. Investors viewed the trial as a major validation of mRNA technology beyond infectious diseases and one of the most significant advances in personalized cancer medicine in recent years.
